Prices of soft drinks rise amid FX woes, inflationary pressure

Prices of soft drinks are on the rise as the industry continues to grapple with the fallout from macroeconomic headwinds induced by the drop in oil price. Nigerian Bottling Company (NBC), the More »

How brewers are selling beer with folklore

As Nigeria’s recession deepens and consumers pockets are squeezed, majority of those still drinking have shifted their beer preferences to value or low cost brands. Nigerian Breweries Plc, the country’s leading brewer More »

Category Archives: Wines & Spirits

Beta Glass names Ayobami Adebisi as new Company Secretary

Beta Glass Plc announced on Thursday the appointment of Ms. Adebola Ayobami Adebisi as its new Company Secretary effective 5 July 2018.

According to the company, Ms. Adebisi will replace Ms. Y. Titi Talabi.

Beta Glass sees growth acceleration continue in the second quarter

Beta Glass Plc reported a strong first half in 2018, a continuation of the growth acceleration begun in the first quarter. The company saw revenue growth of 49% to ₦13.1bn, driven by a 54% sales surge in the second quarter to ₦6.7bn.

Diageo posts marginal revenue growth in full year as adverse foreign exchange hits sales

British drinks maker Diageo Plc reported its full year 2018 results on Thursday, with marginal revenue growth of 0.9% for the period ending 29 June 2018.

The company behind such brands as Johnny Walker Scotch whisky and Guinness Stout recorded £12.2bn in net sales for the year as against £12bn from the previous year. The firm noted that adverse foreign exchange headwinds impacted net sales. Total volumes declined 1%.

Coca-Cola to sell alcohol spirits in Kenya

Crown Beverages Limited, a subsidiary of Coca-Cola Beverages Africa (CCBA), the continental Coke bottler based in South Africa but with footprints in over a dozen African countries including Kenya announced it has signed a deal with Italy-based Gruppo Campari to distribute premium spirits brands in Kenya , heightening up competition in that market.

Labour union, Distillers Association, others reject FG’s proposed excise duty rate increase on alcohol at Senate hearing

Stakeholders in the alcohol beverage industry on Monday declared their opposition to the recent 500% increase in excise duty rates on alcohol by the Federal Government.

The stakeholders, which includes the Nigerian Labour Congress (NLC), Manufacturers Association of Nigeria (MAN), Distillers and Blenders Association of Nigeria (DIBAN), and the Association of Food, Beverage and Tobacco Employers of Nigeria (AFBTE) expressed their displeasure over the rate hike to a Senate Committee on Finance at a public hearing on the matter.

FG to review tariff increase on locally produced alcohol – Labour Minister

The Federal Government will review the recent excise duty increase on locally produced alcohol, according to Senator Chris Ngige, Minister of Labour.

In a statement signed by the ministry’s Director of Press, Samuel Olowokere on Friday in Abuja, while receiving members of the National Union of Food, Beverage and Tobacco Joint Employers and Workers Association on a Save Our Soul (SOS) mission, the minister said the Federal Government will review the newly introduced 500% excise duty on locally produced alcohol beverages.

“Adulteration is killing distilleries business,” says MD, Grand Oak Limited

The Managing Director of Grand Oak Limited, a marketing wines and spirits firm, Aare Fatai Odesile, has said that the spirits industry is being harmed by adulteration.

In a recent interview with the Marketing Edge Magazine, Odesile said that individuals are able to adulterate spirit brands due to the low barrier entry in the distillery sector.

Explaining further, he said that because recycled bottle business has become a booming business today, it makes it easy for some people “to sit at the corner of their houses, manually apply cork, used label and package fake gin and masquerade it as the original.”

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.