The Senate has condemned the downward review of import duty on milk powder by the Federal Government from 10% to 5%.
The Upper House of the National Assembly went further to request its committees on Agriculture, Finance and Customs Excise and Tariff to investigate the ministries, departments and agencies involved in the reduction.
United Africa Company Nigeria Plc (“UACN Plc”), a diversified conglomerate and one of Nigeria’s oldest companies announced on Thursday that it will wind up the assets of one of its subsidiary businesses, Warm Spring Waters Nigeria Limited, makers of ‘Gossy’ Table Water based in Ikogosi, Ekiti State.
The company cites weak operational performance due to problems associated with the rural location of the plant at the source of the spring water, logistical challenges, 100% reliance on company-generated power and a difficult operating environment as reasons to shut the business.
Warm Springs Waters commenced business in 2002 in Ikogosi, Ekiti State, in partnership with the Ekiti State Government and some private investors to produce premium quality spring water under the ‘Gossy’ brand.
