The Coca-Cola System in Nigeria, comprising the Nigerian Bottling Company (NBC) Limited and Coca-Cola Nigeria Limited, has pledged to invest $1.37 billion (N560 billion) in Nigeria in the next five years.
 
The brand stated this as it flagged off activities marking its 70th anniversary in Nigeria with key NBC and Coca-Cola Nigeria executives in attendance.
 
The Managing Director (MD) of NBC, Mathieu Seguin, in a chat with newsmen to kick-start activities for the anniversary, said, “As we continue to grow, we have been very deliberate about investing heavily to make a positive impact in the lives of people in communities where we work and operate…
 
More details through:
https://dailytrust.com/coca-cola-earmarks-n560bn-for-investment-in-nigeria

Nigeria’s largest Fast-Moving Consumer Goods (FMCGs) companies have seen their profits surge to a five-year high and above pre-pandemic levels in the first half of 2021, a sign that an economic recovery is on for Africa’s biggest economy. Data compiled by BusinessDay show that Nestle Nigeria, Dangote Sugar, Flour Mills, Unilever Nigeria, and Nascon recorded profits above pre-pandemic levels…
 
More details through:
https://businessday.ng/business-economy/article/nigerias-largest-fmcgs-see-profits-surge-to-five-year-high/
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The British Deputy High Commissioner (DHC) in Lagos, Ben Llewellyn-Jones has reiterated that the UK will continue to drive a discussion on Nigeria as a safe  place for investment.
 
He gave the assurance after inaugurating Reckitt – a global leader in hygiene, health and nutrition, sub-Saharan Africa (SSA) Head Office in Lagos.
 
He indicated that UK was strengthening its economic partnerships with Nigeria, as part of a Government drive to ensure the country ‘s growing demand for investment is met by the UK’s expertise and innovation…
 
More details through:
https://thenationonlineng.net/uk-pledges-to-boost-investments-in-nigeria/
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Coca-Cola Co.’s Nigeria unit said it has seen a threefold increase in e-commerce sales this year after virus-induced lockdowns inspired a change in consumer habits in Africa’s most populous country.
 
The U.S. beverage giant saw a sharp rise in online sales of its products after Africa’s largest economy joined the global trend of imposing movement restrictions on people to contain the spread of the virus, according to its chief executive officer.
 
“The first one month of Covid-19 was the pivot point,” for e-commerce penetration in the company, CEO Alfred Olajide said at an interview in Lagos, Nigeria’s commercial hub. “We have more than tripled the e-commerce business that we have in our portfolio,” he said without sharing details as the company isn’t listed in Nigeria…
 
More details through:
https://www.bloomberg.com/news/articles/2021-06-27/coca-cola-nigeria-unit-triples-e-commerce-sales-amid-pandemic

Nigeria’s rapidly growing population is giving life to the baby food market, which has to ensure an estimated 7 million babies born in Nigeria every year are properly fed. Nigeria currently has a population of 211 million, which according to the United Nations is projected to increase by 90 percent to 401 million by 2050…
 
More details through:
https://businessday.ng/business-economy/article/baby-food-market-booms-on-nigerias-growing-population/
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The purchase of alcoholic drinks via e-commerce channels is gaining traction with Nigeria, Africa’s biggest economy, identified among the top five key markets with potential for growth, a new report by Euromonitor International, the world’s leading independent provider of strategic market research shows…
 
More details through:
https://businessday.ng/business-economy/article/nigeria-among-top-5-growth-markets-for-e-commerce-in-alcoholic-drinks/
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Nigerian Breweries Plc has unveiled plans to achieve over 70 per cent renewable energy usage by 2030, describing the move as part of its contribution to reducing carbon footprints from its production plants across the country.
 
The Managing Director, Jordi Borrut Bel, who stated this at the official commissioning of its 663.6kw solar power plant in Ibadan, said the project would reduce its carbon emission from its Ibadan brewery by 10,000 tonnes over its lifespan.
 
“We are brewing a better world by significantly reducing carbon emission from our production sites by 2030,” he said. He noted that plans are also underway to expand the project as well as commission other similar solar plants in all its Aba, Enugu and Lagos bottling plants…
 
More details through:
https://guardian.ng/business-services/nigerian-breweries-eyes-800mw-yearly-power-generation-70-renewable-energy-utility/
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Nigerian Breweries (NB) Plc said it expended over $87.8 million (N36 billion) in capital investment into its operations across Nigeria during the 2020 financial year and has recommended a N7.7 billion special scrip dividend scheme for its shareholders for the year.
 
Speaking at a virtual pre-AGM media briefing of the company, Managing Director, Jordi Borrut Bel, said aside from the investment, the company recorded significant growth in sales volume in the 2020 financial year despite the impact of the COVID-19 pandemic on businesses…
 
More details through:
https://www.vanguardngr.com/2021/04/nb-invested-n36bn-in-nigeria-in-2020/
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Beer maker Heineken B.V. is on track to expand its control of the Nigerian brewery business, after racking up further 1,903,609,538 ordinary shares of Champion Breweries Plc in a move bringing its stake in the Uyo-based brewer to 84.7 per cent.
 
Heineken, headquartered in Amsterdam, Netherlands, consummated the share acquisition through its Nigerian subsidiary, Raysun Nigeria Limited, putting it in a strong position as the majority shareholder to make a takeover attempt. It will help broaden its dominance beyond Nigeria’s most capitalised beverage maker, Nigerian Breweries Plc, where Heineken wields 37.94 per cent stake via ownership of 3,034,100,563 shares.
 
Consumers in Nigeria, Brazil and the United Kingdom – the brewer’s three biggest markets – drank 1 million hectolitres of Heineken brands in the 12 months of 2019, according to its 2019 financial results…
 
More details through:
https://www.premiumtimesng.com/business/436655-heineken-extends-dominance-of-nigerian-brewery-market-with-potential-champion-breweries-takeover.html

Restriction placed on trade establishments as part of measures to combat coronavirus pandemic affected wine importation into Nigeria in 2020. The country took delivery of N154.1billion ($314.6million) wine as at December 2020 from five countries as against the annual imports of $1.2billion, leading to a 63 per cent fall in import.
 
Data by the United States Department of Agriculture (USDA)’s Global Agricultural Information Network (GAIN) revealed that Nigeria imported $136.66million from United States. Also, United Kingdom exported $31.1 worth of wine into the country; Spain, $20.96million; Brazil, $16million and South Africa , $15.7million. However, USDA noted while spirits constituted about 30per cent of the market for alcoholic beverages in the country, beer led with 55per cent with wine making up the remaining 15per cent.
 
The GAIN estimate noted that 75per cent of the spirits consumed in Nigeria were locally made, while imported spirits accounted for $500million of the total value of spirits consumed between 2019 and 2020…
 
More details through:
https://www.newtelegraphng.com/nigeria-wine-imports-from-u-s-spain-drop-to-n154-1bn/
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