This holiday season just got a whole lot more exciting! PalmPay, one of Africa’s leading fintech platforms, operates Nigeria’s most used mobile wallet and has teamed up with Jumia, the continent’s e-commerce giant, to launch a festive campaign that’s all about convenience, rewards, and enhancing your shopping experience.

Running from December 11th to 28th, 2024, this holiday campaign is set to reward shoppers who use the new “Pay with PalmPay” feature on Jumia with cash prizes. Every purchase made using the direct payment method automatically enters participants into a draw, giving them a chance to win exciting cash rewards while enjoying the seamless shopping and payment process.

A Strategic Partnership To Enhance Digital Payments

The integration of the “Pay with PalmPay Wallet” feature on Jumia marks a major milestone in the partnership between the two industry leaders.

Speaking at the media announcement, Mr. Chika Nwosu, Managing Director of PalmPay, highlighted the broader mission driving this collaboration: “We are thrilled to join forces with Jumia to redefine convenience for shoppers. At PalmPay, our mission has always been to drive economic empowerment through accessible and user-friendly financial services. This partnership is a natural step forward in achieving that goal.”

Beyond the holidays, this partnership with Jumia m,k is a signal of bigger things to come. Mr. Chika added: “This is more than just about payments—it’s about creating value for our customers. We are excited about the opportunities this partnership will unlock in 2025, including campaigns and innovative initiatives that will further transform the online shopping landscape.”

Sunil Natraj, CEO of Jumia Nigeria, highlighted the shared vision between both companies, stating: “At Jumia, we are dedicated to creating value for our customers by ensuring a convenient, reliable, and secure shopping experience. This partnership with PalmPay strengthens our commitment to enhancing the digital payments within our platform. By integrating PalmPay, we are providing more options for customers to access affordable and quality goods with the convenience of cashless transactions.”

How to Join the Holiday Fun

Participating in the campaign is simple. vrWhen shopping on Jumia, select the “Pay with PalmPay” option at checkout, and your entry into the draw is automatic. It’s that easy!

Bonus Entry: Share a screenshot of your purchase on X (formerly Twitter) using the hashtag #PalmPayXJumia to increase your chances of winning. Additional winners will be selected from participants engaging with the campaign on Twitter.

Whether you are shopping for gifts, or gadgets this festive season, PalmPay and Jumia are making sure your experience is not only seamless but also rewarding.

To learn more about the campaign, stay tuned to the official X accounts (formerly Twitter) of @palmpay_ng and @JumiaNigeria. for updates, announcements, and more chances to win.

This holiday season, shop smarter, pay easier, and get rewarded with PalmPay.

Dangote Group, owners of Dangote Refinery, and the Nigerian National Petroleum Company Limited, NNPCL, have clashed over a $1 billion crude oil-backed loan.

Recall that barely 24 hours ago, in a statement credited to NNPCL spokesperson Olufemi Soneye, the state-owned oil firm said it secured a $1 billion loan backed by crude to support the Dangote Refinery during liquidity challenges.

However, Dangote Group spokesperson, Anthony Chijiena, has described NNPCL’s claim as ‘misinformation’.

The company clarified that the $1 billion crude backed loan is about five percent of the total investment that went into building the 650,000 barrels per day refinery.

According to him, it is inaccurate to say NNPCL facilitated $1 billion for Dangote Refinery amid liquidity challenges.

Chijiena explained that NNPCL had proposed a 20 percent stake investment valued at $2.76 billion in the Dangote Refinery, but that didn’t materialise.

He noted that NNPCL was able to invest $1 billion, which amounts to 7.24 percent equity value.

“Our decision to enter into a partnership with NNPCL was based on recognition of their strategic position in the industry as the largest offtaker of Nigerian crude and, at the time, the sole supplier of gasoline into Nigeria.

“We agreed on the sale of a 20 percent stake at a value of $2.76 billion. Of this, we agreed that they will only pay $1 billion while the balance will be recovered over a period of 5 years through deductions on crude oil that they supply to us and from dividends due to them.

“If we were struggling with liquidity challenges, we wouldn’t have given them such generous payment terms.

“As of 2021, when the agreement was signed, the refinery was at the pre-commission stage. In addition, if we were struggling with liquidity issues, this agreement would have been cash-based rather than credit-driven.

“Unfortunately, NNPCL was later unable to supply the agreed 300 thousand barrels a day of crude, given that they had committed a greater part of their crude cargoes to financiers with the expectation of higher production, which they were unable to achieve.

“We subsequently gave them a 12-month period for them to pay cash for the balance of their equity given their
inability to supply the agreed crude oil volume.

“NNPCL failed to meet this deadline, which expired on June 30th, 2024. As a result, their equity share was revised down to 7.24 percent. These events have been widely reported by both parties.

“It is, therefore, inaccurate to claim that NNPCL facilitated a $1 billion investment amid liquidity challenges.

“Like all business partners, NNPCL invested $1 billion in the refinery to acquire an ownership stake of 7.24 percent. That is beneficial to its interests,” the Dangote Group statement said.

Dailypost

Leading Public Relations expert Bolaji Abimbola, Managing Director/Chief Executive Officer of Integrated Indigo Limited—one of Nigeria’s foremost Public Relations and Event Management Consultancy firms—has been named PR Practitioner of the Year at the 2024 Lagos Public Relations Industry Gala Awards (LaPRIGA). The prestigious event, hosted by the Lagos Chapter of the Nigerian Institute of Public Relations (NIPR), took place on Friday, December 13, 2024, in Lagos.

With nearly two decades of experience, Abimbola has built a legacy of excellence, leading high-impact campaigns for corporations and individuals alike. His expertise spans compelling storytelling, crisis management, and fostering strategic partnerships. Through his visionary leadership, he has amplified his clients’ works and transformed Integrated Indigo Limited into one of Africa’s fast-rising PR agencies.

Through his strategic expertise and commitment to excellence, Abimbola has not only carved a unique niche in the profession but has also played a pivotal role in amplifying diverse voices and stories of communities and individuals through his clients’ works at Indigo.

Abimbola’s accolades include the NIPR Presidential Award (2019), PR Practitioner of the Year (2021), and recognition on Nigeria’s PR Power List of Top 50 PR Practitioners in 2022 and 2024. His passion for advancing the PR profession is reflected in groundbreaking initiatives that have reshaped narratives and elevated corporate and community voices.

While presenting the award, Dr Dare Ogunyombo stated it was truly deserving, given the awardee’s passion and commitment to promoting professionalism and excellence through his clients’ work.

According to Ogunyombo, the choice of Abimbola as the PR Practitioner of the Year is based on his leadership of a dynamic organisation with an impressive profile, quality clients and campaigns including innovative ideas from concept to execution.

He stated that the awardee had demonstrated exceptional leadership by deploying the transformative power of PR to shape the narrative, build connections and inspire progress for his clients.

In her opening remarks, Comfort Nwankwo, chairman of the NIPR Lagos Chapter, explained that the PR profession in Nigeria has reached remarkable milestones in the last 12 months, with campaigns that have redefined corporate storytelling, advocacy strategies that champion societal causes, and bold innovation that captures global attention.

The LaPRIGA Awards continue to celebrate individuals and organisations that exemplify excellence in Public Relations, solidifying its role as a cornerstone for recognising innovation and professional achievements in the industry.