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 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.
