Monthly Archives: March 2017

FC WAMCO and Sahel Capital Partners Sign MOU on Collaboration to further Nigeria Dairy Development Programme

FrieslandCampina WAMCO Nigeria PLC and Sahel Capital Partners & Advisory have signed a Memorandum of Understanding (MoU) to collaborate on Nigeria Dairy Development Programme (NDDP).

The Nigeria Dairy Development Programme is a processor-led dairy programme collaboration between FrieslandCampina WAMCO Nigeria PLC, Nigeria’s leading dairy company and Sahel Capital Partners & Advisory Limited. The programme aims to strengthen the Dairy Transformation Agenda of the Government by demonstrating proof-of-scale in Nigeria’s processor-led initiatives for dairy development as modelled by FrieslandCampina WAMCO’s Dairy Development Programme (DDP).

National Assembly to investigate NBC, others over harmful content in soft drinks

The Federal House of Representatives on Wednesday moved to form an ad hoc committee which would investigate the quality of products produced by the Nigerian Bottling Company Limited (“NBC”) and other soft drinks producers in the country.

Year ends with loss for Cadbury Nigeria

Cadbury Nigeria Plc, the Bournvita maker on Tuesday reported its full year results for the 2016 financial year, ending the year with a net loss of N296m, compared to N1.2bn profit in 2015.

The company which has been experiencing declining sales and low profitability in the last few years said that revenue grew 8% in the year ended to nearly N30bn. In 2015, the company recorded N28bn in sales. The sales growth in addition to a tax credit of N266m helped narrow the company’s losses from N842m in the 9-months to December.

Guinness Nigeria commissions seven new boreholes in Cross River State to commemorate World Water Day

In furtherance of its continued commitment to interventions that transform lives and improve the health and well-being of communities in Nigeria, Guinness Nigeria Plc has constructed seven hand pump water boreholes in Bebi Community, Obanliku Local Government Area (LGA) of Cross River State.

Diageo’s Africa President John O’Keeffe sheds light on the group’s activities in Africa and outlook

Diageo Plc, the world’s largest spirits maker with big footprints in Africa in both beer and spirits segment said recently it has a strong positive outlook for its business on the continent. The group’s Africa president John O’Keeffe last week spoke with analysts on a wide range of issues pertaining to the group’s activities and strategy on the continent.

Excitement as Nigerians look forward to the first beer festival

Beer lovers are set to experience a weekend of diverse, all-inclusive beer adventure plus a weekend to indulge in a lifestyle where their biggest decision will be how they pick which activity to attend. This is as Nigeria’s first ever Beer festival is billed to hold in Lagos.

The Lagos Beer Festival holds April 22-23, 2017 at the National Stadium Surulere-Lagos and promises to be the largest annual gathering of beer enthusiasts, connoisseurs, celebrities, bar crawlers and those just wanting to learn more about beer.

Health Ministry reassures Nigerians Coca-Cola products are safe, orders NBC, others to insert advisory warnings on products

The Federal Government has reassured Nigerians that the Coca-Cola products manufactured in Nigeria were safe for consumption. This was as the ministry ordered all bottling companies in the country to insert advisory warnings on all products to safeguard the health of all citizens and consumers.

The explanation followed a stakeholders meeting summoned by the Minister of Health, Prof. Isaac Adewole, to address related issues on the recent court judgment on the case filed by Fijabi Holdings against the Nigeria Bottling Company and NAFDAC.

NAFDAC raids counterfeiter’s lair in Lagos, Abuja; impounds wines and spirits worth millions

The National Agency for Food and Drug Administration and Control (NAFDAC) on Friday raided a shop at the popular Oke-Arin market, Balogun, Lagos State and arrested a trader who allegedly manufactures and bottles counterfeit wines and spirits.

The agency said that they acted on a tip-off about some individuals who deal on counterfeit wines and spirits of popular brands.

The enforcement team of NAFDAC said they discovered labeling materials, corks, funnel, filters and empty bottles of registered liquor brands in a shop on Isa Williams Street, Oke-Arin Market, Balogun.

Health Ministry wades into NBC – Fanta, Sprite controversy; constitutes panel to investigate claims

The Federal Ministry of Health said on Thursday it has set up a panel of experts to investigate the fallout from the recent Lagos High Court ruling concerning the level of benzoic and ascorbic acid in soft drinks produced in the country by the Nigerian Bottling Company (“NBC”).

Guinness Nigeria seeks NSE approval for share sale

Guinness Nigeria Plc, said on Wednesday it had sought approval from the Nigerian Stock Exchange (NSE) for a new share sale which it hopes would raise N39.77bn ($130m).

The company which has posted back-to-back losses in the last three quarters said it would issue the shares to existing shareholders at N58 per share, which represents a 17% discount on Wednesday’s closing of N70 per share. Existing shareholders would be offered five new shares for every 11 held as of Wednesday closing.