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: Beer

MAN opposes excise duty rate increase on alcohol, tobacco; seeks its reversal

The Manufacturers Association of Nigeria (MAN) has called on the Federal Government to reverse the newly proposed increase on alcohol and tobacco products, saying that its implementation will lead to job losses and plant closures in the affected industries.

The President, MAN, Dr. Frank Jacobs, spoke on the issue in Lagos on Wednesday while addressing the media on the association’s position on the Africa Continental Free Trade Agreement.

AB InBev plans expansion in Tanzania; announces construction of new $100m brewery

Anheuser-Busch InBev (AB InBev) is moving quickly to expand its holdings in Africa. The world’s largest beer company announced on Monday following a meeting with the Office of the President of Tanzania, John Magufuli, to invest $100m in a new beer plant in Dodoma, the administrative capital of Tanzania. AB InBev is the majority shareholder in Tanzania Breweries Limited, the country’s largest brewer and one it inherited following its acquisition of SABMiller in 2016.

Hospitality industry reacts to ban of alcohol by Kwara State

The hospitality industry have called on the Kwara State Government to lift the ban on the sales, production and consumption of alcohol in the state.

They said the enforcement of such a law would have far reaching effect on the nation’s economy and the hospitality industry.

They spoke with newsmen in separate interviews on Friday in Lagos.

NUFBTE chides FG’s new excise duty on alcoholic beverages, tobacco

The National Union of Food Beverage and Tobacco Employees (NUFBTE) has criticised the Federal Government and threatened to go on a labour strike over the planned increase on the excise duty rates for alcoholic beverages and tobacco.

While speaking at a meeting by the organised labour, President of NUFBTE, Lateef Oyelekan, said that more than 20,000 workers are presently employed in the alcoholic and tobacco sector and may lose their jobs if the amendment takes effect.

AB InBev to divest seven of its beer brands to CCU in Argentina

AB InBev has agreed to transfer seven of its beer brands in Argentina to Compania Cervecerias Unidas S.A. (CCU) as part of a post-merger condition for its takeover of SABMiller in 2016, Argentina’ production ministry announced on Wednesday.

As part of the proposed divestment by AB InBev which received the blessing of the Argentine National Competition Defense Commission, the brewer will transfer seven of its brands, notably – Isenbeck, Dioasa, Norte, Iguana and Baltica beer brands, as well as the licenses to Warsteiner and Grolsch brands to CCU, a Chilean brewer with operations in Argentina.

AB InBev commits to affordable beer brands for Nigerian consumers

Beer giant AB InBev has said it will serve Nigerians with various beer brands at affordable prices.

The Marketing Manager of AB InBev, Mr. Arne Bruse disclosed this at a conference held at the Radisson Blu Hotel in Lagos. He said that consumers of beer will be able to buy some of the company’s beer brands at about ₦100 to ₦150.

Kwara State bans alcohol sale, consumption

Kwara State Government has banned the sale and consumption of alcohol. Governor Abdulfatah Ahmed, has signed into law a bill banning the sale and consumption of alcohol in certain areas of the state.

The bill known as the Prohibition Against the Production, Sale, and Consumption of Liquor in Certain Areas Law 2018, was passed by the State Assembly and signed into law by the governor.

Profits down at Champion Breweries amid rising cost

Champion Breweries Plc, on Monday reported a 2.4% drop in profit for the 2017 full year through December. Profit fell to ₦518m from ₦530m in 2016.

The decline in profit was blamed on a spike in administrative expenses which grew by 157% to N412m. Selling & Distribution expenses also increased by 30% to ₦417m from ₦322m in the previous year.

Despite the profit decline, the company reported a 24% growth in revenue to ₦4.8bn. In the same period in 2016, the firm recorded net revenue of ₦3.9bn.

New excise duty rates on alcohol, tobacco too low – IMF

The International Monetary Fund (IMF) has said that the recently implemented excise duty rates for alcoholic beverages and tobacco products by the Federal Government of Nigeria were too low and instead should be higher to act as “a fail-proof revenue raising strategy.”

The World body is recommending a 100% increase in excise duty be slapped on the affected products to conform to global norms.

Tariffs on Alcohol, Tobacco to go up in June 2018 – Finance Minister

The Federal government has signed-off on the implementation of a new excise duty regime on alcoholic beverages and tobacco products as it seeks to raise government’s fiscal revenues.

President Muhammadu Buhari has approved an amendment to the excise tariff rates for alcoholic beverages and tobacco products which are slated to go into effect on 4th June 2018, the Minister of Finance, Mrs. Kemi Adeosun said on Sunday.