Daily Archives: May 1, 2016

Nestle Nigeria’s first quarter net profit jump 126%

It should be all smiles at Nestle Nigeria Plc as the consumer goods company posted one of its best quarterly performances in years with a 126% rise in net profits to N6.7bn, from N3bn in the same period a year ago.

Nestlé’s revenue trajectory for the first quarter rose 31% to N36bn, from N28bn in the same period a year ago.

Nigeria Spends N165 billion yearly on fruit juice imports, says MAN

Nigeria imports fruit juices valued at N165bn annually, according to the president of the Manufacturers Association of Nigeria (MAN), Frank Jacobs.

Speaking at a workshop organized by the Raw Materials Research and Development Council (RMRDC) in Owerri on Friday, Mr. Jacobs noted that in spite of the high rate of fruit production and a vibrant juice market, the country imported fruit concentrates.