Daily Archives: February 20, 2019

SONA Group Opens Water treatment Plant

February 20, 2019   Editor   No comments

The Sona Group of Industries has inaugurated effluent treatment plants in Sango -Ota, Ogun State. The treatment plants were inaugurated in four of subsidiary units of Sona Group, namely: Euro Global Foods and Distilleries Limited, Sona Agro Allied Foods Limited, Food, Agro and Allied Industries Limited and Shongai Packaging Industries Limited were also inaugurated.

The treatment plants are expected to treat the wastewater produced by the industries, which are undesirable by- products before release into the environment.

Read More

Union hails FG for addressing high number of ‘Expatriates’

February 20, 2019   Editor   No comments

The National Union of Food, Beverage and Tobacco Employees (NUFBTE) has commended the Federal Government for tackling the influx of expatriates in the country.

NUFBTE President, Comrade Lateef Oyelekan, was quoted as saying that prior to the election of President Muhammadu Buhari, the country was bedeviled with influx of foreigners, who disguised as expatriates to corner the scanty jobs meant for Nigerians, thereby making more competent Nigerians second class citizens.

Read More

Nigerian Breweries full year profit plunge as higher excise duty rate, tough operating environment erode earnings

February 20, 2019   Editor   No comments

Leading beer firm Nigerian Breweries Plc (“NB”) said that increased competition and a new excise duty rate increase on domestically produced alcohol and tobacco which came into effect last year has had an adverse impact on its 2018 full year results.

The maker of Star Lager and Gulder said that full year revenue declined by 5.8% to ₦324bn, while net profit for the year was down by 41.2% to ₦19.4bn.

Read More

Labour commends Buhari for rescinding proposed tariff increase on alcohol, tobacco

February 20, 2019   Editor   No comments

The National Union of Food, Beverage and Tobacco Employees (NUFBTE) has hailed President Muhammadu Buhari for suspending the proposed tariff hike on locally produced alcohol and tobacco products.

The union said that the suspension of the initial plan by the Federal Government to increase excise tariff by more than 500% on spirits, wines and tobacco products saved over 165,000 jobs.

Read More

  • Archives