By Abubakar Yunusa
LG Electronics has been honoured as the “Outstanding Refrigeration Brand of the Decade” at the prestigious 2024 EDGE Awards, hosted by Marketing Edge Magazine.
This accolade was awarded during a grand ceremony in Lagos, recognizing LG’s remarkable contributions to the refrigeration industry, particularly in innovation, sustainability, and quality.
The EDGE Awards, renowned for celebrating industry excellence, praised LG Electronics for its pioneering work in refrigeration technology.
With a strong emphasis on energy efficiency and user-friendly designs, LG has consistently delivered cutting-edge products, setting a high standard for the global market.
Mr. Hari Elluru, Head of Corporate Marketing at LG Electronics Nigeria, accepted the award on behalf of the company. In his speech, Elluru expressed gratitude, stating: “This prestigious award reaffirms our commitment to producing top-quality refrigerators that exceed consumer expectations. Innovation, reliability, and sustainability are at the core of everything we do at LG.”
Elluru also highlighted LG’s focus on eco-friendly solutions, noting that the company has made significant strides in reducing carbon emissions while offering state-of-the-art refrigeration technology.
He emphasized that LG would continue to lead the way in providing sustainable, advanced cooling solutions that enhance the lives of its consumers.
Publisher and CEO of Marketing Edge, Chief John Ajayi, applauded LG Electronics for its outstanding leadership in the industry.
“LG’s dedication to excellence and customer satisfaction makes them a deserving recipient of this accolade,” Ajayi said.
“They continue to push the boundaries of what is possible in refrigeration, embodying the spirit of the EDGE Awards.”
The event was a star-studded affair attended by industry leaders, political figures, and dignitaries, including the Executive Governors of Lagos and Ekiti states, Babajide Sanwo-Olu and Abiodun Oyebanji.
The ceremony, themed “Excellence Beyond Borders,” celebrated two decades of recognizing innovation and excellence in Nigeria’s marketing and advertising sectors.
This recognition solidifies LG Electronics’ position as a global leader in refrigeration, inspiring future advancements in the field and reinforcing its commitment to excellence and sustainability.
Insufficient aircraft causing flight cancellations, high airfares, says Keyamo
By Abubakar Yunusa
Festus Keyamo, the minister of aviation and aerospace development, says insufficient aircraft in Nigeria is the primary reason for frequent flight cancellations and high ticket prices for local and international flights.
In an interview with the BBC Pidgin on Saturday, Keyamo expressed concern over the challenges, including flight delays without prior notice to passengers, assuring that they would soon be resolved.
He said the government has initiated a process to empower Nigerian airline operators to partner with foreign companies that manufacture airplanes.
“I met with the people on the ground and asked them, and they told me that the money they pay to hire (rent) airplanes is too high,” Keyamo said.
“They call it wet lease, and the kind of airplanes they get are not the ones they can pay for in installments, why? It’s because the people who bring airplanes to Nigeria for business are afraid of Nigeria.
“They said Nigeria is full of dishonest people, and anytime they bring their planes to Nigeria, if the people cannot pay, they cannot recover their planes.
“I met with them around the world, and they told us to change our law called the Cape Town Convention, when you sign it, it means you are serious.
“The law we signed states that if anyone brings an airplane into Nigeria, if there’s a problem, the government will allow them to take their airplane back, we cannot hold it.”
Keyamo said after Nigeria signed the law and agreement, the country’s aviation rating improved significantly — rising from 49 percent to 70.5 percent.
He expressed optimism that as more planes become available, ticket prices will decrease.
On September 12, the federal government signed the Cape Town Convention (CTC) practice direction to enable domestic airline operators to access aircraft on dry lease.
The Cape Town accord aims to enhance asset-based financing and leasing of aviation equipment, including aircraft, thereby expanding funding opportunities and reducing costs for airlines.
With the agreement, Nigerian airline operators are expected to gain access to aircraft on dry lease, which could lead to lower flight rates for passengers.
NERC: Niger, Togo, Benin owe Nigeria N9.41bn electricity bill for Q2 2024
By Abubakar Yunusa
The Nigerian Electricity Regulatory Commission (NERC) says international customers owe $5.79 million for electricity supply in the second quarter (Q2) of 2024.
The debt amounts to N9.41 billion when converted using the official exchange rate of N1626.32/$ as of October 10.
In its latest quarterly report, the agency said market operators (MO) issued an invoice of $15.60 million to four firms in three countries.
Out of the aforementioned value, the electricity regulator said only $9.81 million was paid.
The firms are Paras-SBEE and Transcorp-SBEE both from the Benin Republic; Mainstream-NIGELEC from Niger; and Odukpani-CEET from Togo.
Under an international treaty, Nigeria sells electricity to neighbouring countries like Benin Republic, Togo, and Niger.
The electricity regulator also said domestic bilateral consumers failed to remit N695.4 million out of N1.99 billion in the same quarter.
“In 2024/Q2, the four (4) international bilateral customers serviced by the MO made a cumulative payment of $9.81 million against the $15.60 million invoice issued to them by the MO for services rendered in 2024/Q2,” the report reads.
“Similarly, the domestic bilateral customers made a cumulative payment of ₦1,295.90 million against the cumulative invoice of ₦1,991.30 million issued to them by the MO for services rendered in 2024/Q2.”
The NERC said some bilateral customers (domestic and international customers) made payments in Q2 2024 for outstanding MO invoices from previous quarters.
“Cumulatively, the international bilateral customers paid a total of $16.65 million; Transcorp-SBEE and Mainstream-NIGELEC have made payments towards all outstanding invoices from previous quarters,” the commission added.
“Similarly, the MO received ₦1,309.97 million from the domestic bilateral customers towards outstanding invoices from previous quarters; Mainstream Energy Solutions has made payment towards all outstanding invoices from previous quarters.”
The regulator said under the special customers’ arrangement, Ajaokuta Steel Company Limited and the host community did not make any payment towards the N1.39 billion (NBET) and N0.11 billion (MO) invoices received in Q2 2024.
“This continues a longstanding trend of non-payment by this customer and the commission has communicated the need for intervention on this issue to the relevant FGN authorities,” the commission said.
The commission said the continuation of the non-payment could trigger total disconnection from the grid.
Never miss a moment! Get the stories shaping Nigeria, delivered straight to your phone. Follow Peoplesdaily Newspaper on WhatsApp for breaking news, exclusive reports, and the headlines everyone will be talking about, before anyone else.
