Daily Archives: June 11, 2018

Niger State Government issues blanket ban of sale and consumption of alcohol

The Niger State government has withdrawn licenses issued to liquor dealers in the state because of what it describes as the refusal of liquor dealers to follow guidelines set by the government for the sale of liquor.

The Niger State Liquor Licensing Board, the body that regulates sale and consumption of alcohol announced the outright ban in a statement signed by its chairman, Malam Muhammad Shafii.

AB InBev withdraws funding for alcohol study as industry’s influence is questioned

The world’s largest brewer, Anheuser-Busch InBev (AB InBev) said it is withdrawing its financial support for a controversial study that will look into whether there are any health benefits to drinking alcohol in moderation.

The ten-year long clinical study which was announced last year had the financial support of the alcohol global heavyweights such as Diageo, Pernod Ricard, Heineken, Carlsberg and AB InBev.

According to the New York Times, the total amount so far raised by the drinks companies for the study is $66 million, of which AB InBev gave $15.4 million.

New excise duty rates not targeted at local manufacturers, says Finance Ministry

The Federal Ministry of Finance came out on Sunday to defend its newly enacted excise duty rates on alcohol and tobacco, saying that they are not targeted at local manufacturers.

In a statement released by the ministry’s Director of Information, Hassan Dodo, it said that contrary to claims in some quarters, the new excise duty rates, which came into effect from June 4, 2018, were not targeted at local manufacturers.

Brown-Forman hails full-year 2018 results as sales grow 8%

U.S.-based spirits firm Brown-Forman Corp said that sales for its full-year results ended April 30, 2018 grew by 8% to $3.2bn. The fourth quarter alone saw growth of 6% to $733m.

The firm best known for its whiskey and bourbon brands, Jack Daniel’s and old Forester said that the recent U.S. tax reform in the third quarter and the creation of a $70m charitable foundation in the fourth quarter had an adverse impact on 2018 earnings. It also notes that the phasing of expenses in the fourth quarter negatively impacted results, while full year net sales benefited by one percentage point from foreign exchange and one percentage point from estimated net changes in distributor inventories.