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Senate seeks suspension of proposed excise duty rate increase on locally produced alcoholic beverages

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The Senate, on Tuesday called on the Federal Government to suspend the planned excise duty increase on locally produced alcoholic beverages set to go into effect on June 4th. The Upper Chamber of the National Assembly said that the increase which would raise the excise duty rate on alcoholic beverages from the current rate of 20% to 67% represents a 300% increase and should be suspended until there is a better understanding of the new policy by all stakeholders in the interest of the national economy. According to the senate, the measure to suspend the proposed rate hike is meant to safeguard the sector from complete collapse. The legislative body said it will initiate a stakeholder’s public hearing by referring the motion to the relevant committee for a full discussion with the Federal Go

Budweiser unveils ‘Light Up the FIFA World Cup’ campaign

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Budweiser, a brand from the stables of International Breweries Plc, a subsidiary of Anheuser-Busch InBev, the Official Beer of the 2018 FIFA World Cup, on Tuesday launched its new global campaign “Light Up the FIFA World Cup.” The major highlights of the campaign feature drones delivering bottles of cold Budweiser to fans across the world in what the company refers to as “the largest beer delivery to date”. It plans to create a selection of integrated experiential, digital and social programs happening worldwide during the World Cup in Russia. The TVC features the journey of thousands of drones as they carry Budweiser bottles and kegs from the company’s St Louis brewery and a stopover in Lagos with the ultimate goal of delivering a stadium full of fans in Moscow. The commercial highlights

Coca-Cola sweetened with 100% Stevia launches in New Zealand

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Coca-Cola has announced the unveiling of its flagship Coke sweetened with 100% Stevia sweetener in place of sugar in New Zealand, its chosen pilot market on 7 May 2018. The company said the launch is evidence of its continued efforts to encourage people to consume less sugar. Coca-Cola has been using Stevia, a plant-based sweetener that has zero calories with cane sugar in Coca-Cola Life which has 35% less calories than Classic Coke since 2013. It is now being marketed in 30 countries around the world. However, the challenge with Stevia has always been how to eliminate a bitter aftertaste which is why Coca-Cola Life is blended with sugar. The company said the difference now is that for the first time, it is using a specific part of the Stevia leaf that tastes great and has a clean aftertas...

Coca-Cola Nigeria unveils ‘Share-a-Coke-with-Super-Eagles’ campaign ahead of World Cup

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Coca-Cola Nigeria has launched yet another spectacular campaign to get fans behind the Super Eagles on the road to Russia for the FIFA 2018 World Cup tournament. Coca-Cola which is the Official Soft drinks sponsor of the Super Eagles and which has been rewarding fans in the ongoing “Score-a-Trip-to-Russia” promo for the past six weeks has announced it is giving fans another chance to join in the excitement of the games and show their love for the Russia bound team with the release of a special edition Super Eagles branded Coca-Cola packaging. The special edition Super Eagles branded 35cl and 60cl PET Coca-Cola original bottles will be released as an extension of the globally acclaimed Share-a-Coke campaign. Tagged ‘Share-a-Coke-with-Super-Eagles,’ the new campaign sets images of each playe

Professor develops new cattle feed that boosts milk yield

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University Professor Moshood Belewu of University of Ilorin, Ilorin, has developed new cattle feed pellets that are capable of increasing the quantity and quality of milk produced by lactating cows. The University of Ilorin Bulletin, which was issued on Monday, stated that Belewu of the Department of Animal Production, Faculty of Agriculture, disclosed the innovation in a report he sent to the Vice-Chancellor of the university, Prof. Sulyman Abdulkareem. The publication said that the new feed was the outcome of Belewu’s research visit to Uka Tarsadia University, India, on the platform of the N. G. Patel Fellowship grant which was recently won by the Professor of Animal Production. It stated that on arrival at the Uka Tarsadia University, Belewu obtained the needed materials for the researc

Obaseki to push for non-punitive tax system for local companies

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The Edo State Governor, Mr. Godwin Obaseki, has said local companies looking to invest should be given more incentives to do so, including a non-punitive tax regime to encourage investments and boost the nation’s economic growth. The Governor made the case while receiving the management team of Guinness Nigeria Plc., led by the Chairman, Babatunde Savage, who paid a courtesy visit to the governor, at the Government House in Benin City, the Edo State capital. According to Obaseki, local companies willing to invest and contribute to the economic growth of the country should be giving incentives such as a non-punitive tax regime. He said the state government will continue to encourage local investors, noting that “such measure will attract other investors to locate their businesses in the sta

International Breweries reports first quarter loss despite strong revenue growth

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International Breweries Plc, the Nigerian unit of Belgian brewer Anheuser-Busch InBev (AB InBev) reported ₦2.2bn in net loss for the first quarter of 2018 ending in March. The brewer blamed the loss on skyrocketing foreign exchange loss which grew by 310% to ₦158 million. That also meant that the firm’s net finance cost surged by 367% to ₦3.6bn. Cost of sales also grew 227% to ₦16.8bn, in part driven by FX and the FX impact on financing cost which led to the record ₦2.2bn loss. Despite the loss, IB Plc said sales grew by 175% to ₦25.9bn, from ₦9.4bn in the prior year. The brewer announced in September it would be changing its financial year-end to 31st December from 31st March of every year following the merger with its sister companies – Intafact Beverages Limited and Pabod Breweries Limi

Guinness Nigeria pays courtesy visit to Edo State Governor, traditional fathers as it rolls out Royal Kingdom Lager

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Guinness Nigeria Plc on Wednesday announced the launch of Royal Kingdom Lager beer; a truly local beer finely brewed to international quality. According to the company, Royal Kingdom is a first of its kind; redefining quality, heritage, culture and royalty for the proud people of Edo and Delta States. It has a refined, crisp and refreshing taste made with pure ingredients for a rich and rewarding experience. The lager is a result of years of extensive research, and the need to celebrate the indigenous people in the heartbeat of Nigeria with a beer that stands as a symbol of their pride, heritage, communal life and kingdom. As part of the activities to introduce Royal Kingdom to the people in the region, the Guinness Leadership Team paid a courtesy visit to the Edo State Governor, Godwin Ob...

Third Annual Food West Africa exhibition to begin May 8

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The third edition of Food West Africa Exhibition will hold from May 8 to 10 at Landmark Centre, Victoria Island, Lagos, its organiser, Informa Life Sciences Exhibitions, has said. Informa Life Sciences Exhibitions, the world’s leading publishing and exhibitions company, said the event is expected to attract over 4,400 experts from 25 countries. Its Marketing Manager, Nafiu Cengiz, in a statement, said the three-day exhibition is expected to host over 100 local and international exhibitors, adding that two new pavilions have been announced for this year – India and Pakistan. According to Ryan Sanderson, the Exhibition Director, Food West Africa: “Now in its third year, Food West Africa has demonstrated its effectiveness as a medium for regional and international companies to raise their pro

Coca-Cola Nigeria to upgrade school facilities in Ogun State

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Coca-Cola Nigeria in partnership with the Ogun State Universal Basic Education Board (SUBEB) is set to embark on construction and rehabilitation at the First Baptist Primary School, Ijaye-Oja Ale, Ilogbo, Abeokuta, Ogun State. The project is part of the Coca-Cola Foundation/UNDP New World Programme in collaboration with Ogun State Government aimed at providing critical infrastructural development in the school, which was established in 1910 as a missionary school adopted by the First Baptist Church before becoming a publicly owned primary school in the 1970s. Speaking at the foundation-laying of the project held at the school premises in Abeokuta penultimate Friday, the Managing Director, Coca-Cola Nigeria, Mr. Bhupendra Suri, who was represented by the Sustainability Manager, Coca-Cola We...