Tag Archives: Nigeria

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.

FG rolls-out Economic Recovery plan, to raise VAT on Champagne, alcoholic beverages, others

The Federal Government on Tuesday unveiled its Economic Recovery and Growth Plan after consultations with stakeholders from both the public and private sectors of the economy.

The plan includes raising the Value Added TAX (VAT) rate on luxury items from current 5% to 15%. The Government is projecting raising N350bn through the increase in VAT rate on luxury items and improvement in company’s income tax, which would commence in 2018.

FG to raise VAT on luxury goods, including Champagne, others

The Federal Government on Wednesday unveiled a revised National Tax Policy which is meant to provide for an efficient tax system and address the low tax-to-GDP ratio.

Addressing the media on the revised tax system after the conclusion of the Federal Executive Council meeting on Wednesday, the Minister of Finance, Kemi Adeosun, said that the cabinet, which was presided over by the Vice President, Yemi Osinbajo has approved the revised National Tax Policy which will see the Value Added Tax (VAT) on luxury items, like champagne, among others raised from the current 5%.

Sorghum Malting plant operators seek government intervention to prevent industry collapse

Stakeholders in the sorghum sector are finding it challenging to remain in business as low import tariff on cheap barley malt, malt extract, glucose and maltose syrups is pushing the industry to near collapse.

The operators in the sector are seeking government’s intervention to halt the slide by re-imposing a ban on barley malt imports, or at worst, raising the tariff which would help slow the wave of imports and prevent the local industry from total collapse.

Cadbury Nigeria appoints new Managing Director

Cadbury Nigeria Plc, announced on Tuesday the appointment of Mr. Muhammad Amir Shamsi as its new Managing Director effective 1 February 2017. Mr. Shamsi takes over from Mr. Roy Naaman who resigned effective 31st January 2017.

Mr. Shamsi joined Mondelez International, the parent company of Cadbury Nigeria Plc, as a Marketing Director of its biscuit business in Pakistan in June 2009. From there, he moved up the ranks to become Head of New Categories, Gum & Candy at Kraft Foods, a Mondelez business in West Africa from 2012 to 2013. He became the Marketing Director of Kraft Foods in West Africa from October 2013 to March 2016. From April 2016 to January 2017, he was in charge of Mondelez Innovation kids Wholesome, Global Biscuits in East Hanover, USA.

No tariff increase on food items, luxury goods as earlier reported – FG

The Federal Ministry of Finance, on Friday, clarified that import duties on luxury goods and food items have not been raised, as was earlier reported.

In a statement issued by the Director of Information, Salisu Dambatta, the ministry said that contrary to some media reports that tariffs on such items have been raised, the government had no such plans at this critical period.

Dambatta further said that instead of increasing import duties, what the government did was to reduce most of the items based on the fiscal measures for 2016.

FG raises import duties on luxury items, consumables including alcoholic spirits, beverages

The Federal Government has raised import duties on luxury goods such as yachts and sport utility vehicles (SUVs) brought into the country, but also included are alcoholic spirits, beverages and tobacco whose tariffs have risen from 20% to 60%.

NAFDAC declares war on fruit juice importers, retailers; raids shops in Kaduna, Onitsha

The National Agency for Food and Drug Administration and Control (NAFDAC) on Friday moved against importers and retailers of fruit juices in what the agency called a “mop-up” exercise of foreign banned juices in the country.

In Kaduna State, where the exercise was in full-swing, the agency’s Coordinator for the state, Mr. Natim Mullah-Dadi, said that the exercise was as a result of Federal Government import prohibition list with emphasis on super and central markets in the state.