Prices of soft drinks rise amid FX woes, inflationary pressure

Prices of soft drinks are on the rise as the industry continues to grapple with the fallout from macroeconomic headwinds induced by the drop in oil price. Nigerian Bottling Company (NBC), the More »

How brewers are selling beer with folklore

As Nigeria’s recession deepens and consumers pockets are squeezed, majority of those still drinking have shifted their beer preferences to value or low cost brands. Nigerian Breweries Plc, the country’s leading brewer More »

Nestle Nigeria unveils new ad celebrating farmers whose work make Golden Morn available to families

Nestle Nigeria Plc, makers of Golden Morn, a cereal made from maize and soya has just unveiled a new ad on the back of the brand’s packaging featuring three sets of photos of farmers who grow the maize and soya used in making the product.

The company said it is part of its creating shared value to celebrate the farmers whose labour of love brings Golden Morn to families across Nigeria. Golden Morn was introduced in Nigeria more than 24 years ago.

Asia Pacific lifts Rémy Cointreau’s half-year sales

Rémy Cointreau said on Tuesday that first-half sales of its 2017/18 financial year through 30 September grew 6% to €544.4m ($639m), buoyed by its Rémy Martin cognac brand which reported 13.8% sales growth to €367m.

Nigeria Customs applauds Guinness Nigeria on payments, vows stronger ties

Guinness Nigeria Plc has been commended for strong compliance and due diligence in remitting its tax and statutory obligations to the Nigeria Customs Service (NCS).

Customs Area Controller (CAC), Lagos Industrial, Nigeria Customs Service, Comptroller Morenike Oladunni, made the commendation during a visit to the company on Monday, October 16, 2017. She said Guinness Nigeria’s impressive compliance with respect to the disbursement of excise duties is not only noteworthy but a reflection of its enviable corporate governance standards.

Nearly all dairy products consumed in Nigeria are imported, says Dangote

Aliko Dangote, Chairman, Dangote Group, says 98% of all dairy products consumed in Nigeria are imported.

“Ninety-eight per cent of all the milk and dairy products we consume in Nigeria are imported.

“This is why Dangote Group has planned to develop dairy plants, and develop homegrown milk production, to reduce importation,” he said.

AB InBev to sell stake in Zambia’s National Breweries to Zimbabwe’s Delta Corp

Delta Corporation, Zimbabwe’s largest brewer and a unit of AB InBev said on Thursday that it has reached an agreement to acquire a controlling interest in National Breweries of Zambia.

In a released statement, Delta said that equity is being acquired from Heinrich’s Syndicate, also a subsidiary of AB InBev.

“The equity is being acquired from Heinrich’s Syndicate, a subsidiary of AB InBev. The transaction is subject to various regulatory approvals. The impact of this transaction is currently being determined but is not material for Delta,” said Alex Makamure, Delta’s Company Secretary.

Delta State Teacher wins 2017 Edition of Maltina Teacher of the Year Awards

A teacher with Mastercare International School Asaba, Delta State, Mr. Felix Udochukwu Ariguzo, has emerged the 2017 winner of Maltina Teacher of the Year Award held in Lagos on Thursday.

For beating out other contestants, Ariguzo was awarded ₦1 Million as well as ₦500,000 he received as Delta State Champion. In addition, he will receive ₦1 million every year for five years, a training programme abroad and a block of six classrooms built in his school.

PZ Cussons Nigeria suffers first quarter loss

PZ Cussons Nigeria Plc, makers of a wide range of consumer products including electricals, personal and homecare products, dairy brands, among others reported a loss of N123m in the first quarter of its 2018 financial year ending on 31 August 2017.

The company blamed its poor performance on higher cost of sales, driven by foreign exchange loss of N1.8bn. Cost of sales rose 17.6% to N12.9bn, while administrative expenses skyrocketed 42% to N1.87bn.

Moët Hennessy Year-to-date sales slump on third quarter supply constraints

Moët Hennessy, the wines & spirits division of French luxury goods maker Louis Vuitton Moët Hennessy (LVMH), said on Tuesday that revenue for the first nine months to the end of September grew 7% to €3.5bn, from €3.2bn in the previous year.

The company which makes high-end luxury goods such as perfumes & cosmetics, fashion & leather goods, watches & jewelry noted that despite a 7% growth in the wines & spirits business group, it trailed all other business categories that recorded double-digit growth.

Price increases help lift PZ Cussons Nigeria’s year-end results

PZ Cussons Nigeria Plc, manufacturers of a wide range of consumer goods including Nutricima brands such as Yo, Coast, Nunu and Olympic yoghurt and milk brands reported a 15% rise in revenue for the full-year ending 31 May 2017. Sales reached N79.6bn from N69.5bn in 2016.

Profit for the year rose 73.1% to N3.7bn, helped by price increases implemented through the year to mitigate the effects of inflation caused by Naira devaluation and poor liquidity.

Nigerian Breweries holds its 9th Annual Golden Pen Awards

Nigerian Breweries Plc, on Friday – 6th of October, 2018, celebrated outstanding journalism practice at the Nigerian Breweries Golden Pen Awards which took place in Lagos.

The award, which is the 9th in the series, is aimed at promoting professionalism and objective reportage of events in the country. It is also meant to reward journalists who abide by the ethics of the journalism profession in their professional practice.

The night of glitz and glamour saw Isioma Madike of New Telegraph Newspaper emerging as the NB Golden Pen Reporter of the Year. The first runner-up was Arukaino Umukoro of Punch Newspapers while Caleb Ojewale of BusinessDay clinched the second runner-up position.