Month: June 2019

NBC pledges commitment to economic growth at unveiling of sustainability report

BUSINESS
The Nigerian Bottling Company Limited (NBC), the sole bottler of Coca-Cola products in Nigeria and a subsidiary of Coca-Cola Hellenic Bottling Company (CCHBC) has restated its commitment to contributing its quota towards a more sustainable society through its social, economic and environmental initiatives. At the unveiling of the company’s sustainability report, NBCs’ Public Affairs and Communications Director, Ekuma Eze, described the Sustainability Report as a compilation of NBC’s social impact and environmental stewardship in Nigeria over the last few years. He said that the report speaks on the company’s investment in different areas, which include youth and women empowerment, health, environment, human capacity building and education. Speaking on the business aspect of the rep

Nestlé partners AGRA to aid agricultural entrepreneurship in Nigeria, other West Africa countries

BUSINESS
Nestlé Central and West Africa (CWA) and the Alliance for a Green Revolution in Africa (AGRA) have launched a new initiative called Youth Agripreneurship Development Program (YADIS). The aim is to accelerate the sustainable development of farmer livelihoods and increase the interest and opportunities for youths in farming agri-food businesses in Ghana, Côte d’Ivoire and Nigeria. According to the company, the programme which is set to run for two and half-years will benefit a total of 2,000 young agripreneurs and smallholder farmers, particularly women. The scheme will focus on training on good agricultural practices and entrepreneurial skills to produce and supply high quality maize, soybean, rice, cassava, cocoa and coffee. The programme in Ghana will be implemented by a Ghanaian agri

Nigerians spent N208bn on Alcohol in 2016, says NBS

BUSINESS
Nigerians spent a total of N208bn on alcohol in 2016, according to the latest data from the National Bureau of Statistics (NBS). A breakdown of the nation’s consumption pattern shows that the South-South zone consumed the most alcohol in the country, with N74.4bn spent on alcohol. This covers the states of Delta, Edo, Bayelsa, Rivers, Akwa Ibom, and Cross Rivers. According to NBS, the North West Zone which comprises Jigawa, Kaduna, Katsina, Kebbi, Kano, Sokoto, and Zamfara consumed the least alcohol in the nation with N2.6bn spent on alcohol. The government statisticians further said that the South East zone came in right behind the South-South in alcohol consumption, with N44bn spent on alcohol. This was followed by the South West with N37bn spent on alcohol, the North Central with N30b

AFBTE posts 22.3% income growth in 2018

BUSINESS
The Association of Food, Beverage and Tobacco Employers (AFBTE) said its full year income in 2018 grew by 22.3% to N102m from N83.4m in 2017. The trade union organization which represents the interest of companies in the food, beverage and tobacco industries said that the sector was beset by influx of imported finished products, which negatively impacted the patronage of locally made goods and thus affected the organisation’s profit margin. Further describing the sector’s performance in 2018, the Association’s president, Comrade Patrick Anegbe, said that the business operating environment in the year under review faced the usual challenges thus impacting firms in the sector. He blamed the low income realisation for the organization to the rehabilitating state of the country’s econo

Best Global Brands launches new cream liqueur

BUSINESS
Nigerbev Limited, makers of Best spirits brands in Nigeria have introduced a new premium cream liqueur in the market – Best Honey Cream Liqueur. According to the company, “Best alcohol premium beverage aims to satisfy the taste buds of our esteemed customers and consistent with our pledge to provide Best products and exciting choices at all times, we have recently introduced a new variant called Best Honey Cream Liqueur made from soothing and comforting honey flavor which can be served chilled or with ice,â€� a statement from the company read. The firm added that the product is now available in trade channels (open markets, supermarkets, neigbourhood stores, bars and restaurants). They are available in 750ml and 200ml bottles. Best Global Brands (BGB) is a pan African spirits company wit