All Progressives Congress Oguta Local Government Area of Imo State Distances Self From Purported Endorsement

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In a leaders meeting of Oguta Local Government Area of All Progressives Congress (APC) held to review political developments in the country in general, and Imo State and Oguta LGA in particular, the purported adoption of a particular gubernatorial as ...Powered by WPeMatico

UNDP, FG Signs MOU On Youths Entrepreneurship Empowerment … As UNDPCommences Training Program For Youths, IDPs On Entrepreneurship in Borno

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The United Nations Development Programme UNDP has signed a Memorandum if Understanding MOU with the Federal Government of Nigeria FGN on a five years youths and Internally Displaced Persons IDPs Entrepreneurship Empowerment training programmes in ...Powered by WPeMatico

PepsiCo sees flat sales and earnings slump in full year as firm struggles with beverage sales

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PepsiCo reported a sharp drop in earnings for the full year 2017 by 23% to $4.9bn, blamed on a host of factors including sales decline in its North America Beverages business unit and Quaker Foods North America business segment plus a $2.5bn one-time charge related to the new U.S. tax laws. The US-based soft drinks maker saw declining sales in three out of six of its geographic business units. While total sales for the year rose marginally by 1% to $63.5bn, sales in its Quaker Foods North America business unit and North America Beverages unit fell by 2% respectively. The bright spots for the beverage maker were in the company’s Frito-Lay North America business unit which grew 2%. The firm’s Latin America business segment grew 6%, while its Europe Sub-Saharan Africa business region rose 8%

Senate seeks FG intervention to halt downward review of import tariff on milk powder

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The Senate has condemned the downward review of import duty on milk powder by the Federal Government from 10% to 5%. The Upper House of the National Assembly went further to request its committees on Agriculture, Finance and Customs Excise and Tariff to investigate the ministries, departments and agencies involved in the reduction. In a motion brought forward by Sabo Mohammed (APC, Jigawa State) titled ‘Urgent Need to Halt the Implementation of a New Import Duty Tariff on Powdered Milk Imported into the Country’, the Senator asked how the economic diversification efforts by the government could succeed if its policies were not favourable to the agricultural sector. The senate unanimously granted prayers of the motion to “call on the Federal Government to suspend the new tariff policy and m

UACN to liquidate Warm Spring Waters Nigeria Limited

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United Africa Company Nigeria Plc (“UACN Plc”), a diversified conglomerate and one of Nigeria’s oldest companies announced on Thursday that it will wind up the assets of one of its subsidiary businesses, Warm Spring Waters Nigeria Limited, makers of ‘Gossy’ Table Water based in Ikogosi, Ekiti State. The company cites weak operational performance due to problems associated with the rural location of the plant at the source of the spring water, logistical challenges, 100% reliance on company-generated power and a difficult operating environment as reasons to shut the business. Warm Springs Waters commenced business in 2002 in Ikogosi, Ekiti State, in partnership with the Ekiti State Government and some private investors to produce premium quality spring water under the ‘Gossy’ brand. UACN ho

Heineken toasts full year 2017 results

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Heineken N.V cheered its full year results for 2017 as it reported a 5.37% (5% organic) rise in revenue to €21.9bn. Profits in the same period jumped 7.1% to €2.2bn from €2.09bn in 2016. Commenting on the results, Jean-Francois van Boxmeer, chief executive officer, Heineken NV said, “We delivered strong results in 2017, with all regions contributing to organic growth in volume, revenue and Operating Profit.” Beer volumes grew 3%, with the “Heineken” beer brand growing 4.5% per hectoliter. The company said that revenue per hectoliter in all regions improved except for Asia Pacific due to negative mix effects. The firm stressed that it continued to invest in key developing markets with expansion of production capacity in Mexico, Cambodia, Vietnam, Ethiopia and Haiti, with the opening of a ne