News
Bosch Focuses On Nigeria, Targets 25% Sales Growth in 2016

Bosch Power Tools- in Nigeria has pledged to increase its investment portfolio in the country by being instrumental in building an automotive industry, providing machinery for modern food and pharmaceutical industries as well as security and thermo technology systems.
BPT at its maiden Dealers Summit in Lagos, on Wednesday, showcased advanced technology equipments for large and small scale firms.
The Company also expressed readiness to work assiduously with the dealers and distributors respectively, to deliver genuine tools and spare parts as well as working with relevant agencies to stamp out importation of fakes through grey markets, while setting a target of 25% growth in turnover in 2016 (in Nigeria) and 40Million euros across West Africa.
Bosch which is already working towards 200million euros as global sales turnover by 2020, said that as Africa comes into focus, the Company is growing increasing interest in Key markets by strengthening their presence in the region, with Nigeria being in core focus.
The global supplier of technology and services recently opened a new sales and service outlet in Lagos, Nigeria.
According to Mr. Benjamin Ofori, regional sales director, “Africa offers great potential for our business with Nigeria leading the pack as the biggest economy in Africa, with more than 170 million people and an emerging middle class doing business with Nigeria is a step in the right direction for us at Bosch Group” said, the Regional Sales Director.
Bosch Group is renowned for its Leadership in Mobility Solutions, Industrial Technology, Consumer Goods, Energy and Building Technology. They are determined to establish this four major segments in Nigeria and the rest of sub-Saharan Africa with local offices already established in Algeria, Angola, Egypt, Kenya, Ghana, Morocco, Mozambique and Tunisia.
Speaking at the event, the Regional Sales Director emphasized the importance of Power tools to increase efficiency in output and overall growth of businesses.
He further said, “The major significance of the power tools dealership event is to underline the commitment of Bosch in Nigeria at building and fostering sustainable business relationship with customers and also build confidence of the brand in the market”.
Bosch Power Tool declared 50million Euros sales turnover in 2015; having 375,000 associates, and has also segmented its African market into four with offices in Nigeria, Kenya, Madagascar and South Africa.
Dealers and Distributors
Delighted dealers and distributors at the event were taken around the tools exhibition area to view the various tools, where they had a one to one session with The Bosch Group service support team discussing customer requirements and how they can further support them.
“The Power Tools Division stands for customer focus and great engineering progress and has recorded significant successes in innovation of power tools, power tool accessories and measuring tools.
“Our step towards content marketing starts with the dealers. We are all out to offer them the needed support to reach the end users. The critical stage is for us to inform the market about our presence in the market. We believe that our close working relationship with relevant authorities will help us boost the confidence the market will repose on us.
“With over 80 years of operating through its distributors and dealers in Nigeria, The Bosch Group office at Landmark Centre, 52-54 Isaac John Street, Ikeja, Lagos and dealers summit officially stamps its presence in Nigeria for dealers, partners and distributors,” said Jan Mayer, head of Sales, Bosch Power Tools (Nigeria).
AFRIKA KOMMT
The German company also expressed their commitment to empowering young talent in Sub-Saharan Africa where they initiated the AFRIKA KOMMT.
The program, Bosch Power Tools said, is engineered towards empowering young budding African business leaders.
“Bosch in partnership with various companies, offers scholarship programs to junior African executives so that they can spend a year in Germany completing professional courses. The goal of the program is to foster mutual exchange and learning between African executives and German companies,” Ofori said.
Manufacturing Plant
The Company also disclosed it is conducting feasibility studies on the possibilities of setting up a manufacturing plant in Nigeria.
Explaining the plans, Ofori, added that instability in public power supply remains the biggest challenges in Nigeria, hence Bosch is carefully understudying Government policy directions and infrastructural developments before finalising on the plant.
News
Ogbaga, Abuja Lawyer to Sue Telcos, DStv over Alleged Unfair Practices

Ogba Ogbaga, an Abuja-based lawyer, has said that he has been instructed to institute legal proceedings against MTN Nigeria, Airtel Nigeria, Globacom, 9mobile and MultiChoice Nigeria, operators of DStv, over what he described as unfair consumer practices relating to expiring data bundles and television subscriptions.

In a statement posted on Facebook, Ogbaga said his law firm, GIMBG Legals, received instructions from its client, KAA, also known as KaaTruths, to challenge the companies’ subscription policies in court.
According to him, the proposed suit will question whether telecom operators and DStv’s subscription models comply with provisions of the Federal Competition and Consumer Protection Act (FCCPA) 2018 and other applicable laws.
Ogbaga alleged that telecom providers operate internet data services that are unfair to consumers, claiming subscribers sometimes do not receive the services they paid for but still lose their subscriptions once the validity period expires.
He also criticised DStv’s subscription model, arguing that consumers lose paid viewing time due to factors such as power outages, adverse weather conditions and service interruptions, while subscriptions continue to count down regardless.
“Our clients have complained that MTN data services are unduly one-sided,” Ogbaga said, adding that the legal action would also extend to other telecommunications providers and DStv.
He said the court action would seek judicial determination on whether the companies’ subscription practices comply with consumer protection laws.
The lawyer also invited interested legal practitioners to collaborate on the case, saying his firm would provide updates as the matter progresses.
In a separate Facebook post on Wednesday, Ogbaga said previous policy discussions, town hall meetings and debates at the National Assembly had failed to address the concerns raised by consumers.
He argued that telecom operators regularly carry out maintenance and network upgrades that temporarily disrupt services without extending customers’ subscription periods, while DStv subscribers also lose viewing time because of electricity outages and weather-related disruptions.
News
NAICOM Issues New Licences to 43 Recapitalized Insurers

The National Insurance Commission (NAICOM) has commenced the issuance of new licence certificates to insurance companies that successfully met the industry’s new minimum capital requirements, marking the formal beginning of a new regulatory era aimed at strengthening the financial capacity, governance and global competitiveness of Nigeria’s insurance sector.

At a ceremony held at the Commission’s headquarters in Abuja, the Commissioner for Insurance, Olusegun Ayo Omosehin, presented the new licence certificates to compliant operators, describing the exercise as a major milestone in the industry’s recapitalisation programme.
According to the Commission, a total of 43 insurance companies declared compliant with the new capital requirements are expected to receive the new licence certificates in phases.
Omosehin congratulated the successful companies, saying the issuance of the new licences signals the beginning of a stronger regulatory framework anchored on improved capitalisation, sound corporate governance, innovation and sustainable growth.
He urged operators to leverage their enhanced capital base to develop innovative insurance products, improve operational efficiency and deepen insurance penetration across the country.
The Commissioner said the Commission expects the recapitalised companies to deliver stronger financial performance while maintaining high standards of professionalism and customer service.
He also announced that NAICOM’s next major regulatory initiative would be the implementation of the Risk-Based Capital (RBC) framework, under which insurers’ capital levels would be aligned with the risks inherent in their respective business portfolios.
According to him, the new framework will further strengthen the industry’s resilience by ensuring that insurers maintain capital commensurate with the risks they underwrite, thereby enhancing policyholder protection and boosting market confidence.
Omosehin reaffirmed the Commission’s commitment to removing regulatory impediments where necessary while maintaining effective oversight to safeguard policyholders and strengthen confidence in the insurance market.
The issuance of the new licence certificates marks the commencement of a phased transition to higher capital standards aimed at improving the financial capacity, solvency and claims-paying ability of insurance companies operating in Nigeria.
News
Nigeria CommunicationsWeek Retracts Story on Pan African Towers Litigation

Management of Nigeria CommunicationsWeek Media has withdrawn its publication titled “Adefolarin Ogunsanya and the Allegations of Shareholder Interference and Self-Dealing at Pan African Towers,” which was published on its platform.

The decision to retract the story follows an editorial review to ensure that the platform maintains the highest standards of accuracy, fairness and responsible journalism in reporting matters that are the subject of ongoing judicial proceedings.
Nigeria CommunicationsWeek acknowledges that the issues raised in the publication remain before the courts and have not been finally determined.
Accordingly, the organisation has decided to remove the article from its platforms pending the conclusion of the legal processes or the availability of additional verified information.
The publication regrets any inconvenience or misunderstanding the report may have caused to readers or any individuals or organisations mentioned in the story.
Nigeria CommunicationsWeek remains committed to the principles of balanced, factual and ethical journalism and will continue to uphold professional standards in its coverage of judicial and corporate governance matters.
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