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Comprehensive Media Audit Shows Flutterwave, MTN Nigeria, and Bolt Outpacing Competitors in Media Engagement

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Comprehensive Media Audit Shows Flutterwave, MTN Nigeria, and Bolt Outpacing Competitors in Media Engagement  

Despite Nigeria’s prevailing economic difficulties, including heightened inflation and increasing operational costs, the fintech, telecommunications, and ride-hailing industries have maintained a robust media presence and public awareness footprint. This sustained success is attributed to strategic media relations, effective marketing campaigns, and the impressive data shared with the media during Q3 2024, which collectively bolstered public perception and instilled confidence in these sectors.

An in-depth media performance analysis conducted by P+ Measurement Services, Nigeria’s leading media intelligence and PR audit agency, tracked and audited media coverage of these sectors across both online and print platforms. The agency monitored over 1.3 million online publications—spanning blogs, branded publications, forums, and global news sources—alongside approximately 5,115 print publications, including daily, weekly, and monthly editions. This comprehensive tracking enabled P+ Measurement Services to extract key PR metrics, such as sentiment analysis of reporters, editors, publishers, and opinion leaders, CEO performance assessments, spokesperson analysis, and overall topic prominence.

Key Insights from Q3 Media Performance Audit: 

Fintech Sector:
The audit examined eight fintech companies, highlighting their competitive dynamics through extensive media tracking. Flutterwave emerged as the frontrunner, capturing a significant 42% share of total media coverage, largely driven by the expansion of its SEND App Remittance Service to 49 U.S. states. This reflects Flutterwave’s strong media strategy, showcasing its influence and outreach. Following Flutterwave, Moniepoint attained a 29% share, propelled by its announcement of new security features to enhance customer protection. Opay held 20% of the media share, supported by its introduction of a Night Guard feature, while Kuda trailed with a 9% share, indicating lower media engagement despite its growing customer base. These results emphasize the competitive nature within the fintech sector, with Flutterwave’s proactive strategies setting the standard for media prominence.

Telecommunications Sector:
In telecommunications, MTN Nigeria dominated, achieving a 49% share of media coverage, significantly driven by the extension of its tower lease agreements with IHS Nigeria until 2032. This reinforced MTN’s position as a market leader with a consistent and strategic media approach. Globacom followed with a 21% share, its visibility amplified by its partnership with the Lagos State Government on the M-Agric Lottery Service, aimed at food sufficiency. In contrast, Airtel Nigeria and 9mobile registered 15% each in media coverage, highlighting the disparity in media engagement. MTN’s consistent and dominant media profile underscores its established influence and proactive communications strategy.

Ride-Hailing Sector:
Among the ride-hailing companies analyzed, Bolt Nigeria stood out, securing 51% of media exposure due to its proactive measures, such as introducing an optional verification feature for riders in Nigeria. InDrive followed with 29%, driven by its celebration of achieving 5 billion deals, while Uber Nigeria secured 19%. Rida Nigeria lagged significantly with just 1% media visibility. The variance in coverage reveals differing levels of media engagement and strategic media presence within the ride-hailing industry, with Bolt Nigeria clearly outperforming its competitors.

Comparative Analysis: Sector Disparities and Strategic Implications

The analysis draws attention to the concentration of media prominence within a select number of leading brands across the fintech, telecommunications, and ride-hailing sectors. This trend highlights the critical role of strategic media management, where top brands such as Flutterwave, MTN Nigeria, and Bolt Nigeria have effectively leveraged media relations to sustain strong public profiles, reinforcing their market dominance and credibility.

The disparity in media engagement across sectors further emphasizes the varying levels of success in deploying tailored PR and communications strategies. In a rapidly evolving digital landscape, maintaining consistent and strategic media visibility is crucial for brands seeking to remain competitive and relevant, especially within Nigeria’s dynamic business environment.

Comprehensive Media Audit Shows Flutterwave, MTN Nigeria, and Bolt Outpacing Competitors in Media Engagement  

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BUA Foods Achieves Record-Breaking Growth: Revenue Soars 109% to ₦1.53 Trillion in FY 2024

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BUA Foods Achieves Record-Breaking Growth: Revenue Soars 109% to ₦1.53 Trillion in FY 2024

BUA Foods Achieves Record-Breaking Growth: Revenue Soars 109% to ₦1.53 Trillion in FY 2024

 

BUA Foods Plc, a leading name in Nigeria’s food manufacturing industry, has delivered an impressive financial performance for the fiscal year 2024, showcasing substantial growth across all key metrics. The company’s relentless pursuit of innovation and efficiency has solidified its leadership position in the market.

 

Founder and Chairman, Abdul Samad Rabiu, CON, attributed this success to strategic investments and operational excellence. “Our exceptional growth in 2024 underscores our commitment to ensuring food security in Africa. We remain focused on sustainable growth and delivering superior value to our stakeholders.”

Key Financial Milestones:

Revenue: ₦1.53 trillion (+109.3%)
Gross Profit: ₦541.71 billion (+107.9%)
Profit After Tax: ₦274.95 billion (+145.3%)
Earnings Per Share: ₦15.27 (+145.3%)
EBITDA: ₦499.4 billion (+131.5%)
The company recorded impressive growth across its product categories, with sugar sales rising 74% to ₦733.8 billion, flour sales surging 172% to ₦589.5 billion, and pasta sales increasing 125% to ₦197.6 billion.

Engr. (Dr.) Ayodele Abioye, Managing Director of BUA Foods, highlighted the company’s resilience amidst macroeconomic challenges. “Our expansion strategy and operational excellence have driven strong growth and positioned us for future success.”

With a clear roadmap for expansion and a commitment to innovation, BUA Foods is well-poised to continue delivering sustainable value while addressing Africa’s evolving food security challenges.

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BUA, NNPC Gas Marketing Ltd commence development of a 700TPD, 45mmscf Mini-LNG Plant with Ground-breaking in Ajaokuta

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BUA, NNPC Gas Marketing Ltd commence development of a 700TPD, 45mmscf Mini-LNG Plant with Ground-breaking in Ajaokuta

BUA, NNPC Gas Marketing Ltd commence development of a 700TPD, 45mmscf Mini-LNG Plant
with Ground-breaking in Ajaokuta

 

Kogi State, January 30, 2025 – BUA, one of Africa’s largest infrastructure, manufacturing and mining companies, has commenced the development of a 700-ton-per-day (700TPD), 45mmscf Mini-LNG Plant with a ground-breaking ceremony held today in Ajaokuta, Kogi State. In attendance at the event was Founder/Executive Chairman of BUA Group, Abdul Samad Rabiu; Kogi State Governor, H.E. Ahmed Usman Ododo; Minister of State for Petroleum Resources (Gas), Hon. Ekperipe Ekpo; NNPC Board Chairman, Chief Pius Akinyelure; GCEO NNPC, Mele Kyari; Authority Executive of NMDPRA, Engr Farook Ahmed and other eminent dignitaries including various stakeholders.

 

 

Speaking at the event, the Founder/Executive Chairman of BUA Group, Abdul Samad Rabiu, said in his speech: “This BUA LNG plant, which we are constructing in partnership with NNPC, is a major step towards ensuring energy security for Nigeria. Upon completion, it will ensure that BUA’s captive power plants are provided with much-needed gas with limited supply downtime, thus enhancing our production and manufacturing capacity while positioning BUA to be fully integrated into the value chain of our energy supply operations”.

BUA, NNPC Gas Marketing Ltd commence development of a 700TPD, 45mmscf Mini-LNG Plant
with Ground-breaking in Ajaokuta

He further stated that the project is a win-win for Nigeria and is in line with President Bola Tinubu’s vision of promoting gas usage for cleaner energy. NNPC will provide critical gas feedstock for a 10% stake in the plant, and BUA will provide 100% financing while driving execution. This is a testament that public-private partnerships under the right government policies can deliver transformative results.

 

The BUA LNG plant will ensure cost efficiency, supply stability, and sustainability for our operations while reinforcing Nigeria’s industrial future. Covering a land area of about 16 hectares, it will primarily serve BUA’s captive power plants across its manufacturing businesses and provide gas for other uses across Nigeria.

In his speech, the GCEO of NNPC, Mele K. Kyari, stated that it is rightly timed to have these five mini-LNG plants in Kogi State, of which BUA LNG is one. This is considering its strategic location at the crossroads of Nigeria’s North and South, in Ajaokuta, Kogi State. This will provide easy access to the Eastern and Northern parts of the country.

The project’s signing ceremony, which took place within the week at NGML headquarters in Abuja, was attended by BUA’s Group Executive Director, Kabiru Rabiu, Chief Legal Officer, Oluseye Alayande, and NGML’s leadership team, led by its Managing Director, Justin Ezeala.

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Access Bank to Host Pioneering Africa Trade Conference in Cape Town

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Access Bank to Host Pioneering Africa Trade Conference in Cape Town

Access Bank to Host Pioneering Africa Trade Conference in Cape Town

 

Cape Town, South Africa – January 29, 2025: Access Bank PLC is set to host its first-ever Africa Trade Conference (ATC), a landmark event focused on advancing Africa’s economic transformation under the theme, ‘Empowering Africa Through Trade, Innovation, and Sustainable Growth’. Scheduled for March 12, 2025, in Cape Town, South Africa, the conference is poised to bring together the most influential voices in trade, finance, and policy to address the future of commerce across the continent.

 

Access Bank to Host Pioneering Africa Trade Conference in Cape Town

With Africa’s trade finance gap estimated at $81 billion annually, the conference aims to tackle the systemic challenges hindering trade, particularly for SMEs and domestic firms. By fostering collaboration among key stakeholders, the Conference will explore innovative solutions, sustainable trade practices, and strategies for expanding African economies into global value chains.

Roosevelt Ogbonna, Group Managing Director/Chief Executive Officer, Access Bank PLC, emphasised the importance of the Africa Trade Conference, in addressing these pressing issues. “The Africa Trade Conference represents a crucial step in redefining Africa’s trade potential. By creating platforms for dialogue, innovation, and actionable solutions, Access Bank is enabling African businesses to connect and thrive in the global economy.”

Access Bank’s presence across 24 countries globally, including 16 in Africa, provides a unique advantage in facilitating inter- and intra-African trade. The Bank’s growing network positions it as a key player in addressing trade complexities and promoting inclusive growth across the continent.

Seyi Kumapayi, Executive Director, African Subsidiaries, Access Bank, highlighted the broader vision of the forum, saying, “The Africa Trade Conference is a platform to not only address Africa’s trade challenges, but to champion the continent’s opportunities. Through strategic partnerships, tailored financial solutions, built on the ethos of sustainability, we are paving the way for Africa’s businesses to take their place on the global stage.”

This flagship event will convene a distinguished line-up of seasoned speakers, and top executives from leading international banks, Development Finance Institutions (DFIs), and captains of industry in Africa.

The ATC will also shine a spotlight on the transformative potential of the Africa Continental Free Trade Area (AfCFTA), which aims to reduce trade barriers, enhance infrastructure, and integrate African economies into global trade networks. Furthermore, the event will explore critical themes shaping the continent’s economic future, including the transformative role of digitisation and innovation in global trade, solutions for overcoming trade barriers to enhance market access, as well as sustainable trade practices and innovative financing models, thereby providing a comprehensive roadmap for advancing Africa’s position in global commerce. Please visit https://africatradeconference.accessbankplc.com/ for more information.

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