General News
Consumer Experience to Overtake Product, Price as Brand Differentiator
In an ever changing and fast paced world where alternatives are rife, customer experience is rapidly becoming one of the most important elements of a business’ success.
According to the Institute of Customer Service, the driving factor that will determine decisions going forward will be the level of acustomer’s intellectual and emotional engagement with the purchase.
Fatima Sullivan, vice president of Customer Services for DHL Express Sub-Saharan Africa, says, “If the customer is not the key focus in all activities, whether it is improvements in delivery times or query resolution processes, efforts are wasted. Customers know what they want, and how they want it. You just need to listen to them.”
She points to the recently released Walker report titled Customers 2020, which reveals that by 2020, customer experience will overtake product and price as the key brand differentiator, and therefore more emphasis will need to be placed on the experience a company delivers to create a competitive advantage.
“The voice of the customer is therefore an important element to consider when planning your strategies. Customers want to engage with companies who can not only provide a service, but are able totailor-make solutions and respond quickly to changing demands. In the logistics industry, where unforeseen delays may arise, it’s important to be able to react quickly and proactively communicate with your customers. Engaged customers understand that things go wrong sometimes, but they need to trust that you are able to recover from it in a fast and professional manner,” added Sullivan.
It’s not just about problem resolution, but more importantly, about determining the root-cause, and to ensure that the problem does not occur again.
“Customers should also be able to access various escalation channels easily – there’s nothing worse than situations where frustration levels are high and you cannot track down the right person to assist you. In DHL’s case, we introduced a best-in-class feature to our website which we refer to as Straight to the Top (STTT). This allows customers to have access to the DHL Express Senior management team, including the Africa Management Board. It’s all about accessibility and speed of query resolutions.”
“We need to make sure that every individual in the business understands the impact they can have on the customer experience, and focus on the smaller details that drive quality. An insanely customer-centric culture can only be achieved if all employees have the same goal in mind – to delight the customer at every opportunity.”
“We service over 40,000 customers across Sub Saharan Africaand the only way we are able to provide the service quality that our customers have been accustomed to is by having a team of 3500+ Certified International Specialists, all focused on the same thing. Your people are the golden thread that keeps it all together. You can have the best customer feedback tools and CRM systems, but if you don’t have the right people analyzing the data and implementing the solutions, your business cannot move forward,” Sullivan said.
Dangote Petroleum Refinery is reportedly nearing completion of a $2.5 billion private placement that values the company at about $40 billion ahead of its planned public listing.
Private placement is the direct sale of company shares or bonds to pre-selected investors instead of the general public and it is used to raise money quickly while avoiding strict public reporting rules.
People familiar with the transaction said investors acquired as much as 6 per cent of the refinery, according to a BusinessDay report.
The reported terms would value the business at approximately $40 billion.
Neither Dangote Group nor the refinery has publicly announced the final amount raised, the identities of most subscribers or the precise percentage sold.
The figures should therefore be treated as transaction details supplied by unnamed sources rather than confirmed company disclosures.
The reported $2.5 billion total is nevertheless significant as it indicates strong demand for exposure to a privately controlled refinery that has rapidly become central to Nigeria’s fuel supply and an increasingly important exporter of petroleum products.
The placement was said to have attracted more demand than the available shares, allowing the company to secure substantially more than the amount initially associated with the fundraising exercise.
Femi Otedola, chairman, First HoldCo, is the only major participant publicly identified in the report.
He reportedly committed $100 million to the transaction and sold his investment in Geregu Power Plc to finance the acquisition.
Nigeria’s pension industry was also reportedly cleared to participate.
Access to more than $17 billion in retirement assets would broaden the refinery’s potential investor base beyond wealthy individuals and conventional institutional buyers.
Participation by Pension Fund Administrators would, however, require careful attention to valuation, liquidity and portfolio-concentration limits.
Retirement funds must balance the attraction of a large Nigerian industrial asset against their responsibility to protect contributors’ savings.
The implied $40 billion valuation represents investor expectations about the refinery’s future earnings rather than only the physical cost of constructing the facility.
Its ability to process 650,000 barrels of crude daily gives it a central role in supplying Nigeria and other markets, but its commercial performance remains connected to crude availability, product prices, exchange rates and regulation.
The refinery has struggled to obtain all the Nigerian crude it requires under the government’s naira-for-crude arrangement.
It has consequently purchased some feedstock internationally and recently moved local petroleum-product pricing into dollars to align sales revenue more closely with its foreign-currency expenses.
Those constraints will be important during any public offering.
Prospective shareholders will want greater clarity on crude-supply contracts, debt, operating margins, export revenue and the company’s relationship with Nigerian regulators.
It is also unclear whether the private placement involved newly issued shares, a sale by existing owners or a combination of both.
That distinction determines whether the reported $2.5 billion becomes fresh capital for the refinery or proceeds received by selling shareholders.
The transaction could provide a useful price reference for the planned initial public offering.
Federal government will next month launch Nigeria’s first national organized crime strategy to strengthen the country’s response to terrorism, cybercrime, human and drug trafficking, kidnapping, illicit financial flows, and other forms of organized crime.
Major General Adamu Laka, national coordinator of the National Counter Terrorism Centre under the Office of the National Security Adviser, disclosed this in Abuja during the validation of the strategy document.
He said the strategy provides a coordinated national framework for tackling organized crime through improved intelligence sharing, stronger collaboration among security agencies, and closer cooperation with the criminal justice system, civil society organizations, and international partners.
Major General Laka explained that the document was developed through a partnership involving the Federal Government, the United Nations Office on Drugs and Crime (UNODC), the United States Government, and other stakeholders.
Speaking at the event, Cheikh Toure, UNODC representative, said the strategy would strengthen Nigeria’s capacity to combat transnational crimes, including drug trafficking, cybercrime, human trafficking, kidnapping, and illicit financial flows.
Also speaking, Douglas Grane, acting director of the United States Department of State’s Bureau of International Narcotics and Law Enforcement Affairs, reaffirmed the U.S. government’s support for Nigeria’s efforts to tackle organized crime through stronger inter-agency and international cooperation.
Representatives of the National Institute for Strategic Studies, the Nigeria Financial Intelligence Unit, and the National Cyber Security Centre also endorsed the initiative, describing it as a major step towards improving Nigeria’s fight against organized crime.
FATE Foundation, with funding from the Citi Foundation, has launched the Youth Entrepreneurship Incubation Programme to equip young people in Nigeria with financial literacy and entrepreneurship skills.
Delivered through free, safe, and accessible platforms, the programme supports the incubation and scaling of youth-led enterprises, enabling income generation and job creation.
In October 2025, FATE Foundation was selected as a recipient of Citi Foundation’s 2025 Global Innovation Challenge to Accelerate Youth Employability. Joining the cohort of 50 organisations globally, the Foundation will receive $500,000 over two years to advance its youth employability initiative.
“We are excited to be selected for Citi Foundation’s 2025 Global Innovation Challenge,” said Ayomide Akindolie-Igwe, Executive Director of FATE Foundation.
“This support enables us to equip young entrepreneurs in Nigeria with the financial literacy and skills needed to build and scale sustainable businesses.”
The programme addresses youth employability by tackling Africa’s growing jobs crisis. By 2030, the African continent will be home to 40% of the world’s youth, and with one in three under 35 already unemployed, this initiative will support Nigerian youth with a two-phase approach. It begins with financial literacy training before progressing to entrepreneurship development, incubation support, and access to tools needed to build viable, job-creating businesses.
“Through this innovative initiative, FATE Foundation is supporting low-income Nigerian youth to develop essential financial and entrepreneurial skills using accessible platforms.
“This support is not just helping individuals to succeed; it is building a solid foundation for sustainable enterprises that will drive job creation and contribute significantly to our nation’s economic vitality. This initiative is empowering and investing in the future of Nigeria, one youth at a time,” said Nneka Enwereji, MD/CEO Citibank Nigeria Limited.
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