At the Investor’s and Exporter’s (I&E) window, the naira exchanged at rates ranging from ₦1,295.00 to ₦1,051.00 per dollar.

– Data from the FMDQ Exchange:
– Naira lost **₦64.50**, a 5.51% decrease from the previous trading day.
– Total daily turnover rose to **$110.17 million** on Monday from **$86.68 million** on Friday.
– Investor’s and Exporter’s (I&E) window:
– Naira traded between **₦1,295.00** and **₦1,051.00** against the dollar.
– CBN Governor Yemi Cardoso’s statement:
– CBN working towards a stable exchange rate.
– Efforts to ensure proper price discovery level.
– Foreign exchange reforms yielding positive results.
– Naira considered the best-performing currency globally.
– Shared during an IMF and World Bank Group meeting, predicting naira’s steady appreciation against foreign currencies.

Innovation often comes with challenges, and the story of Mr Benjamin Zebaze’s tricycle prototype is a testament to this reality.

The Journey of Mr Benjamin Zebaze’s Tricycle Prototype: Hopes, Challenges, and Lessons

Over the course of two years, Mr. Zebaze poured his passion and expertise into developing a tricycle that held the promise of transforming the way drinks were distributed across the nation. His dedication paid off when Kadji enterprise showed interest in testing his prototype in their factory.

The Journey of Mr Benjamin Zebaze’s Tricycle Prototype: Hopes, Challenges, and Lessons

Key Points:

• Development and Testing: The tricycle prototype, meticulously crafted by Mr. Zebaze, was met with curiosity and skepticism from the Cameroonian community. Questions about its origin, strength, aesthetics, and cost flooded in. Mr. Zebaze clarified that while most components were locally designed, a few key parts like the engine, shocks, and axles were sourced externally.

The Journey of Mr Benjamin Zebaze’s Tricycle Prototype: Hopes, Challenges, and Lessons

• Market Expansion: With ambitions to expand his market beyond Cameroon, Mr. Zebaze set his sights on the CEMAC zone and Nigeria. His goal was not just to sell a product but to provide an affordable solution that catered to the needs of the local population.

The Journey of Mr Benjamin Zebaze’s Tricycle Prototype: Hopes, Challenges, and Lessons

• Challenges and Delays: Despite the initial excitement surrounding the tricycle prototype, its journey to mass production faced unforeseen hurdles. The delay in seeing Mr. Zebaze’s tricycles on the streets distributing Kadji drinks raises questions about what might have gone wrong along the way.

The Journey of Mr Benjamin Zebaze’s Tricycle Prototype: Hopes, Challenges, and Lessons

Lessons Learned:

• Market Research: Studying the market dynamics and consumer needs is crucial before launching a new product. Understanding pricing strategies and competitive landscapes can help avoid setbacks.

• Collaboration: Building strong partnerships with enterprises like Kadji can provide valuable insights, resources, and opportunities for growth. Collaborations can help navigate challenges and accelerate the path to success.

• Persistence: Innovation is a journey filled with ups and downs. Mr. Zebaze’s story reminds us of the importance of persistence, resilience, and adaptability in the face of setbacks.

The Journey of Mr Benjamin Zebaze’s Tricycle Prototype: Hopes, Challenges, and Lessons

As we await the next chapter in Mr. Zebaze’s tricycle venture, his story serves as an inspiration to aspiring entrepreneurs and innovators. The road to success may be paved with obstacles, but it is those who persevere, learn from challenges, and stay true to their vision who ultimately triumph.

Tems, the acclaimed Grammy-winning singer, has unveiled the reason for the delayed debut of her first album.

Impact of Surgery and Illness on Delaying My Debut Album – Tems

In a recent interview with the New York Times, Tems shared that a “severe illness” forced her to push back the release of her debut album in 2021.

The illness required surgery and a six-month recovery period, prompting her to postpone the album. Instead, she chose to release her second extended play, titled ‘If Orange Was a Place’.

Tems mentioned that her recovery period inspired her new music, which she described as a representation of embracing life with a warrior spirit.

“Being a warrior is about not giving up,” she said. “Even if they cut your leg, you walk on your knees, you fight on your knees using what you have — and that’s good enough.”

Tems’ much-anticipated debut album, ‘Born In The Wild’, is set to drop on June 7.

In addition to her album release, Tems will also kick off her first headline world tour in June.”

In a different narrative, South African singer Tyla shared how Tems paved the way for global recognition of African female artists.

During a recent interview with Kiss Fresh UK, Tyla expressed her joy in working with Tems on her first album, praising Tems for her exceptional talent and positive energy.

Tyla described the collaboration with Tems as an amazing experience, highlighting Tems’ limitless talent.

“Working with Tems is amazing. She is so talented. She is literally a force. I’m so honoured to have worked with her. She has opened so many doors for us (young African female artists).”

Tyla and Tems joined forces on the hit single “Number 1” from Tyla’s self-titled debut album, released earlier this month.

Tyla gushed about their collaboration, saying, “We made such a beautiful song with such a beautiful message. It is a song for the girls and it is made by the girls.”

Current Cement Prices in Nigeria

Cement Prices for Dangote, BUA, and Other Brands This Week

The current price of a bag of Cement in Nigeria ranges between ₦8,500 and ₦10,500, with slight variations depending on the location within the country. This price range reflects a notable increase compared to previous years.

Factors Contributing to Rising Cement Prices

Several factors contribute to the rising cement prices in Nigeria:

Economic Conditions: Inflation and exchange rate fluctuations significantly impact the cost of production and transportation, affecting the final retail prices.

Supply Chain and Production Costs: Variations in the cost of raw materials and energy, along with logistical challenges, particularly in remote areas, lead to higher prices.

Government Policies and Taxes: Regulations, taxes, and import duties can also influence cement prices, as they affect cement manufacturers’ overall operating costs.

Market Dynamics: The balance between supply and demand plays a crucial role. Seasonal construction booms and market speculations can drive prices up as demand outstrips supply.

Current Prices of Different Cement Brands in Nigeria

1. Dangote Cement: Ranges from ₦7,600 to ₦8,000 per 50kg bag, depending on the location.
2. BUA Cement: Priced between ₦6,500 to ₦7,000.
3. Ibeto Cement: Ranges between ₦7,200 to ₦8,500.
4. Lafarge Cement: Priced between ₦6,500 to ₦8,000.
5. UNICEM Cement: Ranges from ₦8,000 to ₦8,500, depending on the location of purchase.
6. POP Cement: Priced at ₦10,500.

Be sure to consider these prices and factors when planning any construction projects or purchases involving cement in Nigeria.

Guinness Nigeria Plc has refuted rumors of exiting the Nigerian market after Diageo sold its majority shareholding.

Guinness Refutes Speculations of Exiting Nigeria

The company clarified that it is not planning to leave the Nigerian market and remains committed to its operations since 1950.

Despite Diageo selling a 58 percent stake to Tolaram Group, they will retain ownership of the Guinness brand, which will be licensed to Guinness Nigeria in the long term.

“Contrary to rumours being peddled on various media platforms, Guinness Nigeria remains firmly committed to its operations in Nigeria and is poised for a new phase of growth and innovation.

“Our unwavering commitment to Nigeria is evident in the substantial investments in infrastructure, employment, backward integration and our community development and social responsibility initiatives.

“The recent announcement of the partnership between Diageo and Tolaram Group further reinforces unequivocally that Guinness Nigeria remains committed to Nigeria and has no intention of exiting the dynamic Nigerian market. Our business will continue strongly, and no jobs or factories will be adversely affected as a result of this new partnership.”