Good morning

How’s your Saturday going?
Currently, there are only 3 types of people in the world right now: People who have watched Avengers: End Game (5%), people who are on a never-ending queue to watch the movie (94%), and those who would gladly watch others rush to go watch the movie (1%).

Which camp do you belong to?

And while you’re struggling to decide that, here’s a look at the showtime for Avengers: End Game at the cinemas today in Lagos.

Buhari: Commissioning projects and taking a break

Source: Sahara Reporters

The president of Nigeria had a busy week. He visited two states to commission numerous projects, then went on for what’s sounds like a holiday. Here’s how the week went for him:

Monday: Public Holiday

Tuesday: We absolutely have no idea 🤔

Wednesday: Visited Lagos and commissioned the following projects:

10-lane Oshodi–Murtala Muhammed International Airport Road.

The 170-Bed ‘Ayinke House’ (Maternity Hospital)) at the Lagos State University Teaching Hospital (LASUTH), Ikeja.

The Oshodi Transport Interchange and 820 mass transit buses.

Thursday: Visited Borno and commissioned the following projects:

Borno State University

Maiduguri Industrial hub, schools, and roads

Re-modelled Maiduguri Specialist Hospital

Thursday evening till 5th May: Visiting United Kingdom

Goes to the UK for a Private Visit 
 

What happens during a Private visit?

Femi Adeshina, the Special Adviser on Media and Publicity explains it in a rather interesting way by saying “When a man goes on a private trip, he has the right to use his time the way he deems because he has the right to private time. So those who want to believe it’s a medical trip, they have the right to believe, if it pleases them and makes them happier.”

Meet Ukraine’s New Comedian President

Source: Reuters

Who won?

Ukraine’s new president is a self-made millionaire with a successful production company but without political experience. Volodymyr Zelensky is a 41-year-old standup comedian and television star.

Yes, that sounds like Basketmouth or Bovi winning the presidential election.
 

What awaits him?

Zelensky will have to deal with Russian President Vladimir Putin — who refused to congratulate him—deep economic problems and possibly hostile lawmakers.
 

Care to explain more?

Always!

Money problems: In the words of Oleksandr Parashchiy, a top person at a Kiev-based investment bank.  “In the next three years, Ukraine will have to pay off more than $20 billion in state debt and It’s not exactly clear where the money would come from.”

Hostile Lawmakers: Anatoliy Oktysyuk, an analyst with Democracy House says “The main challenge for Zelensky is neither the army nor the war with Russia, It is putting together a team: who will be his chief of staff, his deputies, who will fill the key positions…He will have a hostile parliament on his hands.”

Well, gladly this challenge comes later as Parliamentary elections won’t take place until October.

There are Doubts in the air

Michael Bociurkiw, a Canada-based Ukraine analyst says “I think many voters felt deep down they voted for the TV Zelenskiy rather than for the real-life Zelenskiy — believing that he will govern based on the best interests of the Ukrainian people.”

What should we expect from his tenure?

Zelensky says he is not a politician, rather an ordinary person who came to break the system.
 

However, the public seems to think it can go two ways.

“Everyone will criticise him, I have a feeling Zelensky will soon fizzle out and everything might end with impeachment.”

Or

“He’s young. He hasn’t completely opened up, but I see positive things here.”
 

Wanna know what we think?

Of course, you do!
Time will tell. The Ukrainian people voted for someone who would listen to them and not tell them what to do.

Losing 15 pounds or 35 Naira

What’s going on?

In Nigeria, Oil companies import refined oil for N180 per Litre but sell at N145.

The government pays the difference of N35 so that the price of petrol is at an affordable price for people. This is what subsidy is all about, a sum of money granted by the state or a public body to help an industry or business keep the price of a commodity or service low.

How much are we spending on Subsidy?

recent World Bank report showed that Nigeria spent N731 billion to subsidise petrol consumption in 2018.
 

How much are we subsidizing?

In 2017, daily consumption was 40 million litres per day. But in 2018, daily consumption rose to 54 million litres per day (ml/d), most likely partly due to out-smuggling to neighbouring countries where the oil price is about 300 Naira per litre.

So let’s remove fuel scarcity

Ibe Kachikwu, Minister of State, Petroleum Resources says “If you want to take away subsidy, you have to deal with the unions and Nigerians. Everybody is saying take away subsidy and you will have a solution. When I did it in 2016, I think I must have lost between 10 and 15 pounds,”

What should we do for now?

Fix refineries preferably with funding by the private sector.

Possibly segregate between those who need subsidy and those who don’t.

What happened in the first Quarter of 2019?

Here’s how a few companies performed as of 31st March 2019,  compared to 31st March 2018.

Guaranty Trust Bank’s gross income was up 1.2% to N110 billion ($306 million). Profit after tax increased by 10.5% to N49.3 billion ($137 million).  

Zenith Bank’s gross income dropped by 6.9% to N158 billion ($439 million). Profit after tax rose by 6.8% to N50.2 billion ($139.4 million).  

Access Bank’s gross income rose by 16% to N160 billion ($444 million). Profit after tax increased by 88% to N41.1 billion ($114.2 million).Unilever Nigeria revenue declined by 20.6% to N19.2 billion ($53.3 million). Profit after tax fell by 44% to N1.5 billion ($4.1 million).


Facebook

Facebook raked in $15.08 billion revenue, has 1.56 billion daily active users and 2.38 billion monthly active users.
 

Wait, Isn’t everyone’s ditching Facebook?

Well, Facebook has said it’s sorry and even set aside $5 billion to pay for possible fines.
 

Ehn, so what’s driving the growth?

Stories.

Mark Zuckerberg on Wednesday said that Facebook, Messenger and WhatsApp’s stories features now have 500 million daily active users, joining Instagram, which hit that mark in January.

“Stories are an increasingly important growth opportunity…we are helping advertisers keep up with the shift in how people are sharing just as we did with mobile.”
 

Coca Cola: Helped by key markets in Asia and Europe, Coca-cola made $8.02 billion revenue but was affected by Argentina where sales volume are declining by double digits because the country’s in a recession.

Amazon: Made revenue of $59.7 billion with its cloud services Amazon Web Services making $7.7 billion.


Big Picture: If it’s true that the morning shows the day, then this could be a good hint as to how the year would turn out for these companies.

A spending spree on Cloud nine  


We live in a world where you don’t have physically store what you own. Information—documents, images, videos—is stored in computers/storage devices far away, that’s what is called the cloud 

Oh nice, I know that already but continue…

Cloud computing is basically many computers working together to serve users who are far away.

“If someone asks me what cloud computing is, I try not to get bogged down with definitions. I tell them that, simply put, cloud computing is a better way to run your business.”

—Marc Benioff, Founder, CEO and Chairman of Salesforce.


So what happened?

Cloud storage is getting more important as everything is moving to the cloud.

By the end of 2018, Amazon Web Services(AWS) which accounts for 11% of Amazon’s total revenue has signed about $19.3B worth of multi-year contracts.
 

Who are the contributors?

Coming in the first place is Apple, which spends $30m monthly and recently signed a $1.5 five year service contract.

Other power users are Snap Inc. ($1B+ through 2021), Lyft ($300m through 2021), Pinterest ($750m into 2023), Adobe (Computer software company), Capital One (Financial Institution), and Intuit (Business and financial software company).

Big Picture: Cloud computing is one of the big trends that would shape the future.

Olam + Dangote


Who is being taken off the market?

Olam International Limited has offered to buy Dangote Flour Mill (DFM) Plc for N130 billion. The Singapore-based agriculture trader is looking to expand in West Africa.

Hmmm, they’ve got that much money?

Yes, They have 72,000 people across 66 countries, who work with about 4.7 million small scale farmers.

They process enough peanuts for 16.5 billion peanut butter every year.

They supply one cup of coffee to everyone in the world once a week and 1 in 3 chocolate bars are made from cocoa beans gotten from Olam.

Okay, that’s impressive so What’s DFM’s response?

DFM is still thinking about it as they have to get shareholders’ approval, regulatory approvals, and the sanction of the Federal High Court. DFM’s shares jumped 9.8 per cent to N11.75 after the offer was announced.
 

Would they sell?

Maybe. DFM made $1.2 billion loss in 2018.

The deal is also coming just two years after Dangote Group sold a unit of the business, Dangote Noodle plant, to rival pasta maker De-United Foods Industries for N3.75 billion ($12.26 million).

The world’s biggest election

It’s Mondi vs Gandhi.

Indians are voting for members of parliament and the job of prime minister tends to go to the leader of the party or coalition with most seats. The current Prime Minister is Narendra Modi while his main rival is opposition leader Rahul Gandhi.

How long would the election take?

India’s historic first election in 1951-52 took three months to complete. But it’s better now, with about 900 million people above the age of 18 who are eligible to cast their ballots at a million polling stations.

The election would take place in seven stages between 11 April and 19 May. 35 days!

Votes will be counted on 23 May and results are expected on the same day.

How’s India fairing generally?

The economy has grown by about 7% a year but unemployment is a major concern and is especially high among young people. Also, millions of farmers are angry about low crop prices.

How much was spent on the elections?

As per BBC, India’s Centre for Media Studies estimated parties and candidates spent some $5bn (£3.8bn) for the 2014 elections. This year’s own could be double that amount.
 

Big Picture: Whoever wins these elections and forms a government will control the destiny of the world’s largest democracy.

Chinese Economy is taking it slow


So what happened?
China’s GDP has risen to 6.4 per cent in the first quarter of the year.  Yet, after a 40-year growth, its economy still remains far from great. Even at 6.4%, this seems to be a low point for China.

Why is this so?

In 2015, China’s GDP has sunk below 7 per cent. And since then, its economy has been shaky and fretting between 6.9 per cent, and now 6.4 per cent. The ageing population is one of its dilemmas,  which is plunging it into slower economic growth.
 

Errm, Please go deeper

The ageing population has pushed up labour costs leading manufacturing to shift out of China. Instead of “Made in China”, there are more of “Made in Myanmar” or “Made in Vietnam”.  For instance, Swedish clothing retailer—H&M, has moved its garment manufacturing facilities from China to Myanmar, while Microsoft has relocated Nokia smartphone production from China to Vietnam. Asides, the decrease in labour, there is an inelastic housing demand decimating the housing sector. While shaking the economy’s dependence on the housing sector.

Is 6.4% a low point of growth?

You know that kid in class who always had good grades, that’s China.
6.4% is fantastic to the other kids e.g US growth rate is around 2.3% and Nigeria’s own is about 0.7%, but then to China, if it’s not all As it’s not good enough

It’s time to Say Goodbye

It’s difficult to live in a world where no one is paying attention to you, a world where everyone seems to have moved on. 😞

What do you do when everyone has moved on?

  1. You could wait;
  2. You could wave your hands in an attempt to gain people’s attention; or
  3. You could move on too.

BlackBerry Messenger, after much debate on what to do, has chosen the 3rd option —as it announced to move on and shut down its app.

In their words “The technology industry, however, is very fluid, and in spite of our substantial efforts, users have moved on to other platforms, while new users proved difficult to sign on.”

We would miss you BBM, you changed our lives  ̶f̶o̶r̶ ̶a̶ ̶w̶h̶i̶l̶e̶. 😢 💔

When last did you use BBM?