Daily Archives: March 6, 2016

Akwa Ibom State Government to start taxing alcohol consumption

The Akwa Ibom State Government has announced that alcohol consumption in hotels and beer parlours in the state would now attract tax.

This was made known to journalists in Uyo on Saturday by the State’s Commissioner for Finance, Mr. Akan Okon. He said that people who consumed alcoholic drinks would begin to pay a token as tax.

Champion Breweries records 110% net profit in 2015 Full year

Champion Breweries Plc has just released its full year 2015 financial results, showing a 110% profit after tax to N77m. In the same period in 2014, the company posted N755m loss.

The huge leap in profits is attributable to a settlement of interests/finance charges of approximately N1bn paid by the company in the same period in 2014 to Ray Sun Nigerian Limited, its parent company for a rights issue of N11.6bn. There was no finance charge paid in 2015 fiscal year.

Nigerian Breweries rewards top distributors, trade partners, promises better year in 2016

Brewing giant, Nigerian Breweries Plc, on Friday, March 4, thanked its distributors and trade partners, promising a more rewarding year in 2016 at the company’s Annual Distributor’s Award Night.

The event which held at the Oriental Hotel, Victoria Island, Lagos was in honour of Distributors and Key Transporters of the company’s products, who excelled in the cause of their business partnerships in 2015.