Tag Archives: Nigeria

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.

FG Partners L&Z Farms To Develop The Dairy Sector

The Nigerian Government and local dairy firm, L&Z Integrated Dairy Farms based in Kano have signed a Memorandum of Understanding (MoU) aimed at developing the dairy sector and helping to tackle the recurring Fulani herdsmen and farmers clashes in Nigeria.

The MOU signing which took place in Abuja had the Minister of Agriculture and Rural Development, Chief Audu Ogbeh sign for the Federal Government, while L&Z Integrated Dairy Farm chairman Keith Richards signed for the company.

FC WAMCO to partner Benue State on School Feeding Programme

FrieslandCampina WAMCO, makers of Peak milk, Three Crowns milk and Frisco milk, among others is seeking to partner with the Benue State government on a Federal Government endorsed School Feeding Programme.

South Africa’s Nampak posts 11% revenue growth despite currency losses

South Africa-based Nampak, maker of glass bottles, metal cans and a range of cardboard boxes for the beverage industry among others, said on Monday that full-year results ending 30th September 2016 was positive, with revenue rising 11% to R19.1bn ($1.4bn) and group trading profit up 4% to R1.9bn ($139m).

The performance was due to the turnaround at Glass, good trading in Nigeria and Zimbabwe, volume increases from new customers and benefits from operational improvements that resulted in improved efficiencies and cost savings. The group-wide comprehensive performance improvement plan is delivering good results,” said Nampak CEO, André de Ruyter.

Denmark commits to helping Nigeria boost local milk production

Denmark’s Minister Counsellor in Nigeria, Jacob Erikstrup, on Wednesday said his government and some Danish companies are committed to helping Nigeria bridge the gap in local milk production.

While speaking to the News Agency of Nigeria (NAN) in Lagos, the minister said that despite the large importation of milk produce from Denmark to Nigeria, there was a need to increase local milk production.

Coca-Cola HBC revenue dips 2% in Q3; company remains confident in meeting full year target

Coca-Cola HBC AG reported its third quarter results on Thursday, with net sales revenue falling 1.9% to €1.74bn ($1.92bn), down from €1.77bn in the prior year. Total volumes declined 1% to 571.6m cases versus 577m cases in the previous year quarter.

Beta Glass sustains profitability as 9-months profit soar 81%

Beta Glass Plc, the glass container and metal crowns company on Thursday reported a profit surge of 81% for the first 9-months of 2016, rising to N2.9bn, from N1.6bn in 2015.

Despite the macroeconomic difficulties hampering the activities of some of its trading partners, Beta glass said that revenue for the 9-months ending 30th September grew 16% to N13.3b, from N11.5bn in the preceding year.

Famous Grouse Scotch Whisky unveiled in Nigeria amid fanfare

Premium Scotch Whisky, The Famous Grouse was unveiled in its new bottle on Saturday, October 15, 2016 amid a celebratory mood at an exclusive all white event at the Federal Palace Hotel Gardens, Victoria Island, Lagos.

The event which marked the roll out of the brand’s new look and global campaign in Nigeria, “Famous For a Reason” – was meant to celebrate famous people from different works of life including music, media, movies, sports, fashion, technology, as well as everyday heroes who make an impact in society.