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LCCI: High inflation,major setback for manufacturers

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By Oluwaseun ogunsola

The Lagos Chamber of Commerce and Industry (LCCI) has said that major factors causing setback is the high inflation rate of goods and services.

Urged the Federal Government to sustain a targeted Intervention in selected sectors in manufacturing while tackling insecurity.

LCCI President, Micheal Olawale -cole stated during the LCCI quarterly state of the economy press conference in Lagos.

He said, “Fuel subsidy removal would spur investments in domestic refining and Petro chemicals and create a significant value chain for the various state holders.

“Even though the planned removal of planned fuel subsidies may cause further accelerate inflation in the short term,it is arguably one of the best economic decisions to reduce our sustainable dept and widespread corruption in that sector.”

Also,the chamber is of the view that governments fixation on dept accumulation is unhealthy,hence the need to explore other avenues including opening equity opportunity and offloading/sales of its real estate holdings.

According to his statement, “the government should also make the problem if oil theft,with the removal of oil subsidy regime,a thing of the past to help create room for fiscal manipulation.”

The chamber said, government must take cognisance of socio-economic implications of fuel subsidy removal, especially with unemployment at an increased rate of 40 per cent.

LCCI said that the cost of logistics had gone up due to the poor state of roads and lack o connectivity amongst farms, factories and markets.

Also, to reduce the shocks from disruption to supply chains of raw materials, the chamber recommended that manufacturer be assisted with subsidised input and more allocations of forex for the importation of critical inputs.

The chamber said, “while the central bank of Nigeria (CBN) embarks on monetary tightening to tame inflation, it should ensure that targeted concessionary credit to the private sector is sustained for MSMEs.

“To achieve the laudable objectives of the 2023 budget, we urgent the government to sustain current efforts towards the realization of crude oil product and export targets by strengthening the investment -friendliness of oil and gas industry. Public -private partnership are the best models to fast- track the pace of our infrastructure development.”

He said that, with a N10.8trillion budget deficit projected in the 2023 budget, the country’s debt stock was expected to increase in 2023 and that the national dept may inch up to N77trillion by the end of the current administration in may if the CBN’s ways and means of N23.7trillion is securitized and if the current level of borrowing is sustain.

He added, “the government should also make the problem of oil theft with the removal of oil subsidy regime, a thing of the past to help create room for fiscal manipulation.”

Industry

Golden Terra Oil campaign rekindles memories of love and tradition

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In the bustling kitchens of homes across Nigeria, something magical is happening. Amidst the sizzle of pans and the aroma of spices, families are coming together in a celebration of love, nourishment, and togetherness. Golden Terra Soya Oil’s “Pour Pure Love” campaign has captured the hearts and taste buds of consumers nationwide.

For AlhassanSule, an engineer, watching the ad repeatedly reminds him of a time long gone, yet still etched vividly in his memory. As he watches the scene unfold on screen—a mother stirring a pot of soup, the aroma filling the kitchen—he can’t help but be transported back to his own childhood home.

Suddenly, he was a young boy again, sitting at the kitchen table, watching his mother cook with the same love and care. He could almost taste the flavors of her cooking, and feel the warmth of her embrace as she served him a bowl of steaming hot soup.

But it wasn’t just the sights and smells that brought tears to his eyes; it was the flood of emotions that accompanied them—the love, the warmth, the sense of belonging. In that moment, he realised how much those simple meals had meant to him, how they had formed the foundation of his most treasured memories.

As the ad came to an end, he finds himself smiling through his tears, grateful for the reminder of the love that had always been there, even in the simplest of moments. And as he reached for a bottle of Golden Terra Oil at the supermarket, he did so not just as a consumer, but as someone who had been touched by the power of nostalgia and the enduring bond of family.

The “Pour Pure Love” campaign emphasises the importance of creating an emotional connection with consumers by offering meaningful connections in addition to high-quality products.

Chief Marketing Officer, TGI Group, Probal Bhattacharya stated that the outpouring of positive reviews and engagement from consumers for the “Pour Pure Love” campaign underscores the enduring connection between Golden Terra Soya Oil and the moments of motherly love and care shared around the dining table.

“Our goal is to be more than just a product on the shelf – we strive to be a trusted companion, a source of inspiration, and a symbol of warmth and love. With the Pour Pure Love campaign, Golden Terra Oil pays tribute to all the world’s Moms for the warm tasty meals that fill our hearts and our souls with all the love that they pour selflessly into our lives,” he stated.

Golden Terra Soya Oil is a premium, all-purpose cooking oil made from 100 percent pure soya beans, sourced and manufactured in Nigeria. It contains 5x more PUFA (Polyunsaturated Fatty Acids) proven to deliver numerous health benefits, like reducing cholesterol, maintaining a healthier heart, enhancing nerve function, boosting brain health, and supporting muscle strength. Discerning consumers trust Golden Terra Soya Oil to bring an unmatched balance of Taste & Health to every dish cooked with it. Available in various sizes, including 1000ml pouch, 700ml and 1.4L bottles, and 2.5L, 4.5L, and 25L kegs.

Tropical General Investments (TGI) Group is an international investment and holding company with diversified interests and investments across Africa, The Middle East, Asia, and other emerging markets. TGI’s investments focus on driving inclusivity and value addition using locally sourced raw materials, state-of-the-art manufacturing facilities, and a highly skilled workforce to produce world-class products that are consumed both locally and exported to global markets. Across markets, TGI Group owns over a hundred leading brands in Fast Moving Consumer Goods, Agricultural Inputs, Industrial Chemicals, Homecare Products and Pharmaceuticals.

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Industry

Golden Terra Oil campaign rekindles memories of love and tradition

Published

on

In the bustling kitchens of homes across Nigeria, something magical is happening. Amidst the sizzle of pans and the aroma of spices, families are coming together in a celebration of love, nourishment, and togetherness. Golden Terra Soya Oil’s “Pour Pure Love” campaign has captured the hearts and taste buds of consumers nationwide.

For AlhassanSule, an engineer, watching the ad repeatedly reminds him of a time long gone, yet still etched vividly in his memory. As he watches the scene unfold on screen—a mother stirring a pot of soup, the aroma filling the kitchen—he can’t help but be transported back to his own childhood home.

Suddenly, he was a young boy again, sitting at the kitchen table, watching his mother cook with the same love and care. He could almost taste the flavors of her cooking, and feel the warmth of her embrace as she served him a bowl of steaming hot soup.

But it wasn’t just the sights and smells that brought tears to his eyes; it was the flood of emotions that accompanied them—the love, the warmth, the sense of belonging. In that moment, he realised how much those simple meals had meant to him, how they had formed the foundation of his most treasured memories.

As the ad came to an end, he finds himself smiling through his tears, grateful for the reminder of the love that had always been there, even in the simplest of moments. And as he reached for a bottle of Golden Terra Oil at the supermarket, he did so not just as a consumer, but as someone who had been touched by the power of nostalgia and the enduring bond of family.

The “Pour Pure Love” campaign emphasises the importance of creating an emotional connection with consumers by offering meaningful connections in addition to high-quality products.

Chief Marketing Officer, TGI Group, Probal Bhattacharya stated that the outpouring of positive reviews and engagement from consumers for the “Pour Pure Love” campaign underscores the enduring connection between Golden Terra Soya Oil and the moments of motherly love and care shared around the dining table.

“Our goal is to be more than just a product on the shelf – we strive to be a trusted companion, a source of inspiration, and a symbol of warmth and love. With the Pour Pure Love campaign, Golden Terra Oil pays tribute to all the world’s Moms for the warm tasty meals that fill our hearts and our souls with all the love that they pour selflessly into our lives,” he stated.

Golden Terra Soya Oil is a premium, all-purpose cooking oil made from 100 percent pure soya beans, sourced and manufactured in Nigeria. It contains 5x more PUFA (Polyunsaturated Fatty Acids) proven to deliver numerous health benefits, like reducing cholesterol, maintaining a healthier heart, enhancing nerve function, boosting brain health, and supporting muscle strength. Discerning consumers trust Golden Terra Soya Oil to bring an unmatched balance of Taste & Health to every dish cooked with it. Available in various sizes, including 1000ml pouch, 700ml and 1.4L bottles, and 2.5L, 4.5L, and 25L kegs.

Tropical General Investments (TGI) Group is an international investment and holding company with diversified interests and investments across Africa, The Middle East, Asia, and other emerging markets. TGI’s investments focus on driving inclusivity and value addition using locally sourced raw materials, state-of-the-art manufacturing facilities, and a highly skilled workforce to produce world-class products that are consumed both locally and exported to global markets. Across markets, TGI Group owns over a hundred leading brands in Fast Moving Consumer Goods, Agricultural Inputs, Industrial Chemicals, Homecare Products and Pharmaceuticals.

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Industry

Terra Seasoning Cubes redefines value with Saver and Super Packs

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When it comes to seasoning, Terra Cubes has become one of the most popular household names in the Nigerian market. Its blend of carefully sourced natural ingredients which delivers consistent taste, rich mouth-watering flavor, and inviting aroma sets it apart from other seasoning cubes. Now, as part of its commitment to providing the best quality of Seasoning cube at an affordable price and convenient size, Terra Cubes has launched Saver and Super Saver pack.

Introducing the Saver and Super Saver packs, where quality, taste, and affordability converge to redefine your shopping experience. The new packs deliver the same premium quality and delightful taste you expect in a more convenient and cost-effective package.

With the Saver and Super Saver packs, gone are the days of frequent market visits to settle for small, individual packets. Instead, embrace the freedom, affordability, and convenience of purchasing required quantities at once.

Whether you are a homemaker stocking up for a family gathering, preparing for the week ahead, or simply looking to make smarter cost choices without sacrificing the great taste, mouth-watering flavour, and inviting aroma, that Terra Cubes is renowned for, the Saver and Super Saver packs are your ultimate companion.

The Saver pack is available in Chicken and Beef variants, containing 50cubes in a pack, while Super Saver pack is available in Chicken variant, containing 100cubes in a pack.

Group Executive Director – TGI, Deepanjan Roy, says the success of the Saver and Super Saver pack sizes is a result of the company’s resolve to put the interests of consumers first by seeking ways to continually excite and add value to their lives.

“We believe in going above and beyond to understand the needs and preferences of our consumers and the Saver and Super Saver packs are a testament to this commitment. These packs offer not only unparalleled convenience and value along with the assurance of premium quality and delightful taste,” he stated.

Chief Marketing Officer, TGI Group, Probal Bhattacharya expressed delight with the brand’s latest innovation; the Saver and Super Saver packs. With these packaging options, Terra Cubes is setting a new standard in value within the seasoning market.

“The Super Saver & Saver packs were born out of our understanding of our consumers, their need for a more convenient pack with the adequate quantity that seamlessly fits into their consumption and planned purchase behavior. These new offerings have been designed for consumers who want the right quantity of their favorite seasoning cube, Terra, in a pack size that balances convenience with superior value for money,” he said.

As Terra Seasoning expands its footprint in the market, the availability of the Saver and Super Saver packs underscores the brand’s dedication to catering to the varied requirements of customers while maintaining affordability.

Terra Seasoning Cubes are made up of wholesome, carefully sourced essential ingredients specially designed to meet the discerning Nigerian consumers’ needs in every meal, offering great taste, flavour, and aroma for that unique cuisne experience. Every meal cookedwith Terra guarantees an enjoyable meal and a rich signature homemade taste experience.Available in Beef, Chicken, Srimp, and Jollof flavours, in various consumer-friendly pack sizes nationwide.

Tropical Genral Investments (TGI) Group isan international investment and holding company with diversified interests and investments acoss Africa, The Middle East, sia, and other emerging mrkets. TGI’s investments focus on driving inclusivity and value addition using locally sourced ra materials, state-of-the-art manuacturing facilities, and a highly sklled workforce to produce world-cass products that are consumed both locally and exported to global markets. Across markets, TGI roup owns over a hundred leadin brands in Fast Moving Cosumer Goods, Agricultural Inputs, Industrial Chemicals, Homecare Products and Pharmaceuticals.

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