Soft drinks probe: House panel accuses NAFDAC of compromise and failure to perform duty

BUSINESS, New Products, News, NIGERIA, Nigerian state programs, wazobia companies
The House of Representatives ad hoc committee investigating the production and distribution of soft drinks manufactured by the Nigerian Bottling Company (NBC) and other soft drinks producers in the country accused the National Agency for Food and Drug Administration and Control (NAFDAC) of compromise and failing in its duties to live up to its responsibility. At the resumption of the committee’s hearing on Thursday, the majority Leader of the Federal House of Representatives and chair of the committee, Hon Femi Gbajabiamila called on the agency to live up to its responsibilities in order not to increase the health risks posed to consumers of food and drinks by Nigerians. The committee specifically questioned the rational NAFDAC based its decisions on before issuing a certificate of complia

Guinness Nigeria off to a strong start in Q1 as revenue surge 30%

BUSINESS, New Products, News, NIGERIA, Nigerian state programs, wazobia companies
Guinness Nigeria Plc on Thursday reported a 30% increase in revenue for the first quarter ended 30th September 2017. The Nigerian unit of British drinks maker Diageo Plc said that sales hit N29.9bn ($82.3m) in the first three months of its financial year, up from N23bn ($63.3m) it recorded in the same period in 2016. Gross profit for the period grew 24% to N10.4bn ($28.7m) reflecting continued growth within the spirits business as well as benefit of an expanding portfolio, but against the backdrop of lapping the inventory reduction last year, the company said. Commenting on the results, Peter Ndegwa, Managing Director/CEO, Guinness Nigeria Plc said: “Although trading conditions continue to be difficult, we delivered a credible performance with a net sales growth of 30% for the quarter. Thi