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

Diageo half-year sales boosted by strong demand in Asia, U.S.

Diageo Plc, on Thursday reported a 6% sales growth for the first-six months of its financial year ending on 31st December 2018.

The British drinks maker behind such brands as Johnny Walker Scotch whisky and Guinness Stout said that revenue rose to £6.9bn ($9.07bn) compared to £6.5bn in the previous year, driven by stronger demand from China, India and the U.S.

Reduction in net finance charge lifts Guinness Nigeria’s half year profit

Guinness Nigeria Plc, on Wednesday said that net profit for its first-half of the year through 31st December 2018 grew by 21% to N2.6bn, helped by a sharp drop in net finance charge by 73% to N845m.

The maker of Guinness Foreign Extra Stout said that the lower finance charge was driven by the rights issue it initiated in 2017. The brewer noted that the benefits of the lower finance charge more than offset a 30% decline in Operating Profit in a challenging operating environment.

Diageo appoints Gabriel Opoku-Asare as new Head of Society, Africa

Drinks giant Diageo Plc has appointed Gabriel Opoku-Asare, as Head of Society (Sustainability and Responsibility) – Africa Region effective February 1, 2019.

Gabriel was the Corporate Relations Director at Guinness Ghana Breweries Plc (GGBPLC), a subsidiary of Diageo prior to his new appointment.

PDP rejects moves by government to raise VAT, Excise Duties

The Opposition People’s Democratic Party (PDP) in the forthcoming February 16 Presidential election has denounced plans by the current administration of President Muhammadu Buhari to increase the rate of Value Added Tax (VAT) as well as Excise duty rates on goods and services being used by Nigerians.

The Party and its campaign say such a plan is cruel, anti-people and further exposes President Buhari as uncaring and insensitive to the plight of Nigerians, who are already overburdened and groaning under the economic hardship occasioned by his harsh policies and incompetence in office.

FG mulls VAT, Excise Duty increase on Champagne, Soft Drinks as it rolls out its Strategic Revenue Growth Initiative

The Federal Government has unveiled its Strategic Revenue Growth Initiative (SRGI) for sustainable revenue generation in various sectors of the economy, part of which is to increase Excise Duty rates on certain goods as well as Value Added Tax (VAT) from the current 5%.

Speaking in Abuja while launching the SRGI, Wednesday, the Minister of Finance, Mrs. Zainab Ahmed, said the implementation of the initiative would significantly boost the federal government revenue outlook in the months and years ahead.

Guinness Nigeria drives National Development Through Its Agricultural Scheme

Guinness Nigeria Plc., has launched an agriculture scheme tagged “Grow with Nigeria”. The company said it’s in line with the Federal government’s effort to diversify the Nigerian economy through the promotion of agriculture. The event took place at the prestigious Transcorp Hilton Hotel, Abuja on the 22nd of January 2019.

Update on the fire incident at Guinness Nigeria factory in Aba

Guinness Nigeria Plc suffered a fire outbreak at its facility in Aba, Abia State on Friday, 18th January. However, after several hours of battling the flames, it was brought under control by the Aba Fire Service, with the material assistance and support from nearby companies.

In a released statement on Saturday, Guinness Nigeria had this to say: “On the 18th of January 2018, there was a fire outbreak at the Aba premises of Guinness Nigeria Plc located in Osisioma Industrial Layout. The fire which did not affect any of the buildings on site was swiftly contained and put under control by men of the Aba Fire Service Department with assistance from neighbouring companies.

Guinness Nigeria Aba brewery engulfed in flames

Flames engulfed parts of Guinness Nigeria Plc Aba brewery on Friday as fire fighters from the Aba and Umuahia Fire Service and nearby companies fought hard to contain the fire from spreading.

According to the News Agency of Nigeria (NAN), the fire started at about 11am on Friday and wasn’t contained until 6:46pm.

The Aba Fire Service said they met some challenges at the scene, which included inadequate water to fight the flames. They reached out to the Umuahia Fire Service, which sent back-up. They also received support from nearby companies as well as the Nigerian National Petroleum Corporation (NNPC) which provided a foaming agent that helped contain the fire.

CWAY branches out into alcoholic beverage line with Cheers Cocktail

CWAY Foods and Beverages Nigeria Limited, a company best known for its wide array of fruit-flavoured milk drinks such as Nutri-Milk and the recently launched Nutri-Yo, a drinking yoghurt, as well as drinking water and dispensers has recently branched out into the alcoholic Ready-to-drink (RTDs) or mixed spirit drinks segment with the launch of “Cheers Cocktail.”

The company said their target markets are adults as they wind down after work or on a night out with friends in party and events.

Recycling critical to environmental preservation, jobs – FBRA

The Food and Beverage Recycling Alliance (FBRA) has emphasised waste recycling, especially those of food and beverage packaging, as vital in environmental preservation.

According to FBRA, the value chain in the recycling process leads to job and wealth creation.