Daily Archives: May 4, 2018

Professor develops new cattle feed that boosts milk yield

University Professor Moshood Belewu of University of Ilorin, Ilorin, has developed new cattle feed pellets that are capable of increasing the quantity and quality of milk produced by lactating cows.

The University of Ilorin Bulletin, which was issued on Monday, stated that Belewu of the Department of Animal Production, Faculty of Agriculture, disclosed the innovation in a report he sent to the Vice-Chancellor of the university, Prof. Sulyman Abdulkareem.

Obaseki to push for non-punitive tax system for local companies

The Edo State Governor, Mr. Godwin Obaseki, has said local companies looking to invest should be given more incentives to do so, including a non-punitive tax regime to encourage investments and boost the nation’s economic growth.

The Governor made the case while receiving the management team of Guinness Nigeria Plc., led by the Chairman, Babatunde Savage, who paid a courtesy visit to the governor, at the Government House in Benin City, the Edo State capital.

International Breweries reports first quarter loss despite strong revenue growth

International Breweries Plc, the Nigerian unit of Belgian brewer Anheuser-Busch InBev (AB InBev) reported ₦2.2bn in net loss for the first quarter of 2018 ending in March.

The brewer blamed the loss on rising costs including skyrocketing foreign exchange loss which grew by 310% to ₦158 million. Administrative expenses and net finance cost rose by 300% and 367% respectively to ₦6.3bn and ₦3.6bn. Cost of sales also grew 227% to ₦16.8bn, in part driven by FX and the FX impact on financing cost which led to the record ₦2.2bn loss.

Guinness Nigeria pays courtesy visit to Edo State Governor, traditional fathers as it rolls out Royal Kingdom Lager

Guinness Nigeria Plc on Wednesday announced the launch of Royal Kingdom Lager beer; a truly local beer finely brewed to international quality.

According to the company, Royal Kingdom is a first of its kind; redefining quality, heritage, culture and royalty for the proud people of Edo and Delta States. It has a refined, crisp and refreshing taste made with pure ingredients for a rich and rewarding experience.