Month: July 2019

Legend Extra Stout unveils new 45cl bottle as it seeks to broaden its product offering

BUSINESS
Legend Extra Stout, a leading stout brand from the stable of Nigerian Breweries Plc has introduced a new 45cl bottle as it seeks to expand its market penetration. The unveiling took place at a special celebration ceremony at Radisson Blu, Ikeja, Lagos on Friday, July 12, 2019. The event which was tagged the “Power Of 45” attracted hundreds of guests and consumers as they got a chance to get a first look at the new product offering. Speaking after the event, the Portfolio Manager, National Premium Lager, NB Plc, Sarah Agha expressed her delight at the consumers’ positive reaction to this new product offering. According to her, the rich history of Legend Extra Stout is one that is replete with innovation because the brand continuously focuses on optimum consumer satisfaction. “This unique st

Cocoa farmers wants FG to include Cocoa drink in national School Feeding programme

BUSINESS
The Cocoa Farmers Association of Nigeria (CFAN) has called on the Federal Government to include cocoa drink as part of the school feeding programme across the country. “It will be better if the FG can include it in the Home Grown School Feeding Programme for our school children.” The group said that cocoa drink is rich in nutrients that are beneficial for both children and adults and that its inclusion has both health and economic benefits to the country and the people. The call was made by the CFAN president, Mr Adeola Adegoke, during his swearing-in ceremony in Akure, Ondo State. Adegoke said that one of the major problems facing the cocoa sector is that Nigerians consume less of what it produces which has a negative impact on the price of the commodity. He, therefore, called on the Fede

AB InBev cancels plans for Hong Kong listing

BUSINESS
Global brewer, AB InBev on Friday withdrew its plans to sell 1.6bn shares of its Asian business to investors, citing “prevailing market conditions”. The company had been seeking to sell a minority stake in Budweiser APAC, which markets over 50 brands including its premium brands, Budweiser, Stella Artois and Corona in China, Australia, South Korea and Vietnam, but had to shelve the plans due to weak investor demand for its stated price. AB InBev was seeking to raise between US$8.3bn to US9.8bn from the Initial Public offering (IPO). The brewer had stated it would use the funds to pare down its huge debt of over US$100bn racked up primarily from its acquisition of SABMiller in 2016. It would also have used part of the proceeds to expand its business in Asia by acquiring regional rivals. AB

Ogun State partners Irish Dairy firm; to build world-class cattle ranch

BUSINESS
Ogun State Governor, Prince Dapo Abiodun, has said that very soon the State would be exporting milk to China once the current arrangement between the Irish Diary Milk and the State Government becomes operational. Abiodun made this known when the management of Irish Dairy Milk paid him a courtesy visit on Wednesday in Abeokuta. He added that plans are on by his administration to have a world class ranch that would be created through the Public-Private Partnership. Irish Dairy Milk came to explore and discuss how best they could set up their manufacturing plant in the state. The Governor expressed gladness on the opportunity the agricultural sector brings to the State, adding that agriculture, being one of the biggest pillars of his administration, could help boost the Internally Generated R...

NAFDAC clears Eva bottled water safe for drinking

BUSINESS
The National Agency for Food and Drug Administration and Control (NAFDAC) has given the all-clear on its investigation of Eva bottled water. The regulatory agency said that following its default in two batches of Eva bottled water produced and bottled by the Nigerian Bottling Company (NBC), it has determined that Eva bottled Water is safe for consumption. In a statement posted on its website on Tuesday, the Director-General, NAFDAC, Prof. Mojisola Adeyeye, noted that the recall was precautionary and in line with standard global food safety practice. “NAFDAC has taken the required regulatory actions and the public is hereby assured of the safety of Eva Water,” she said. “Following discovery of a default in two lots of Eva bottled water (75cl pack size) produced between 22nd and 23rd May 201