Tag Archives: Nestle Nigeria Plc

Nestle Nigeria sustains growth at full year 2017

Nestle Nigeria Plc, said on Friday that revenue for the full year 2017 grew by 34% to ₦244bn ($674 million). In the previous year, the food and beverage giant posted ₦182bn in sales.

Net profit in the period under review jumped 326% to ₦33.7bn ($91 million), thanks to a 46% rise in Operating Profit and a nearly 50% reduction in net finance cost to ₦8.9bn ($24.5m) from ₦16.6bn.

Nestle opens new N4.1bn Milo RTD factory in Ogun

Nestle Nigeria Plc on Thursday opened its new Milo Ready-to-drink (RTD) factory in Agbara Industrial Area, Ogun State.

The new factory is said to have cost N4.1bn.

The Vice President of Nigeria, Yemi Osinbajo commissioned the new plant which is part of the company’s existing factory at Agbara for the past 37 years.

Rights Lawyer/Activist back FOBTOB; calls on AFBTE to meet workers’ demands

Human rights activist and labour lawyer, Mr. Femi Aborisade, has called on employers in the Food, Beverage and Tobacco sector, Association of Food, Beverage and Tobacco Employers (AFBTE) to accede to the demands of workers in the sector, (Food, Beverage and Tobacco Senior Staff Association) FOBTOB, by granting them the 20% pay rise they have sought and bring to an end the industrial strike.

Nestlé Nigeria partners ITC to boost youth entrepreneurship

With the high rate of unemployment in the country and need to engage the youth meaningfully, Nestlé Nigeria has partnered with Imperial Integrated Consulting in their annual capacity building programme called the National Career Fair.

The fair slated to hold in several states across the country started on December 7 at the University of Lagos. Other States include Oyo, Akwa-Ibom, Kaduna and the Federal Capital Territory.

Striking workers in Food and Beverage sector suspend strike following mediation by Labour Ministry

Workers in the nation’s food and beverage sector called-off their strike on Wednesday following an intervention by the Federal Ministry of Labour and Employment to mediate between the warring groups.

The strike which began on Monday when members of the Food, Beverage and Tobacco Senior Staff Association (FOBTOB) downed their tools to protest their inability to reach a new collective agreement on wages and other fringe benefits with the employer’s association, the Association of Food, Beverage and Tobacco Employers (AFBTE). Members of FOBTOB were seeking among other things an upward review of their salaries by 20% instead of the 14% agreed to by AFBTE.

Trade Union Congress blames employers in food & beverage sector for strike as it enters day 2

Trade Union Congress of Nigeria (TUC) yesterday blamed the ongoing strike in the food and beverage sector on the employers under the aegis of Association of Food, Beverage and Tobacco Employers (AFBTE).

The strike which is in its second day has grounded activities in the food and beverage sector.

Food, Beverage and Tobacco workers to embark on Strike

Workers in the food, beverage and tobacco sector are set to begin a nationwide strike at the stroke of midnight Monday over what the workers say is a “failure by employer’s body to review salary.”

According to the President of the Food, Beverage and Tobacco Senior Staff Association (FOBTOB), which is the umbrella organization for the workers, Mr. Quadri Olaleye and its General Secretary, Solomon Iji, said on Monday that they had signed a letter urging members in the multinational companies to embark on a nationwide strike to press home their demands.

Nestle Nigeria commits to increasing use of local raw materials

Nestle Nigeria Plc, has reiterated its commitment to growing the economy by simplifying its ingredients list and using more local raw materials.

The firm has also set a goal to source only eggs from cage-free hens for all its food products globally by 2025.

Cost savings initiatives, operating efficiencies boost Nestle Nigeria’s nine months profit

Nestle Nigeria Plc, one of the country’s largest Fast Moving Consumer Goods Companies (FMCG) said on Monday that revenue for the nine months to the end of September grew 43% to ₦185bn ($510 million), from ₦129bn ($355 million) in the same period last year.

The company behind such brands as Milo Cocoa drink, Nescafe Coffee, and Golden Morn among others said that the boost in sales was fueled by a strong consumer and distribution-led activities as well as benefits from last year’s price increases.

USAID partners Nestle Nigeria, others to train farmers on best practices

The United States Agency for International Development (USAID) has partnered with Nestle Nigeria Plc and two non-governmental organisations to train farmers, workers and small agricultural businesses in Kaduna State on improving crop quality.

The other organisations that have teamed up with USAID and Nestle Nigeria are Volunteers for Economic Growth Alliance and Vega Member Cultivating New Frontiers in Agriculture.