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Nigeria’s central bank plans to extend a low-interest loan offer to local milk producers to discourage imports after it curbed access to forex for the sector.
The bank said in a statement that it had met with milk importers, after the currency restriction was announced this week, to offer them cheap credit to try and boost output locally instead of relying on “endless” imports. Keen to reduce imports of products that can be produced locally and to conserve dollar reserves, the bank has also offered cheap credit to rice, tomato and starch importers for the same purpose… More details through: https://af.reuters.com/article/nigeriaNews/idAFL8N24S0OY
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To further boost access to portable water supply in Enugu State, the Coca-Cola Foundation in partnership with Water Aid Nigeria, have launched an $833,000 (N300million) water project in three Local Government Areas (LGAs).
The aim of the flagship programme Replenish Africa Initiative (RAIN), is to provide access to sustainable clean water, sanitation and hygiene services to over 10,000 residents in and around Nsukka, Ezeagu, Uzo-Uwani, Isiuzo, and Enugu South LGAs in the State… More details through: https://guardian.ng/business-services/coca-cola-foundation-launches-n300m-water-projects-in-enugu/ JOHANNESBURG, May 22 (Reuters) - Anheuser-Busch InBev (AB InBev), the world’s largest beer maker, expects the total investment in its new brewery at Sagamu in Nigeria, to be up to $400 million, Chief Executive Carlos Brito said on Wednesday.
The $250 million brewery has already started operation and capacity will be expanded in phases, Brito told reporters at a media briefing in Johannesburg, without giving a timeline for the next phase… More details through: https://af.reuters.com/article/nigeriaNews/idAFL5N22Y623 Nigerian Breweries Plc (NB) and CrossBoundary Energy have announced the signing of Heineken’s first solar project in Africa, a pact that will see the latter installing and operating a 650 kW solar plant at the brewer’s Ibadan Brewery, later this year.
Under the pact, CrossBoundary Energy will operate the facility on behalf of Nigerian Breweries as part of a 15-year solar services agreement. Hence, NB will only pay for solar power produced, receiving a single monthly bill that incorporates all maintenance, monitoring, insurance and financing costs… More details through: https://guardian.ng/energy/nb-goes-offgrid-with-650-kw-solar-powered-plant-in-ibadan/ Nigeria is a good market for consumer goods, with many Fast-Moving Consumer Goods (FMCG) firms able to record positive sales. Good and efficient packaging, especially the flexible type, has helped to boost a number of them. Many companies are able to record increased sales based on the attractiveness and designs of their products…
More details through: https://businessday.ng/real-sector/article/fmcg-firms-driven-by-improvement-in-packaging-industry/ Nigeria’s dairy consumption is expected to grow drastically owing to its large younger population who are craving for more nutritious food products. Euromonitor International, an independent global market research company that provides strategy research services for the consumer markets has predicted Nigeria’s demand for dairy products to rise in its latest outlook for the country…
More details through: https://businessday.ng/retail/article/rising-population-seen-to-spur-milk-consumption-as-hunt-for-nutrition-grows/ Coca-Cola on Wednesday, January 30th announced that it has completed its acquisition of Chi Ltd. in Nigeria. Coca-Cola first announced a minority investment in Chi three years ago and, as planned, has now acquired full ownership of the company…
More details through: https://businessday.ng/exclusives/article/coca-cola-completes-acquisition-of-chi-ltd/ Pizza Hut, a division of Yum! brands, has announced the opening of its first restaurant in Nigeria, with two more expected by the end of the year.
“We are thrilled to bring Pizza Hut to Nigeria as we continue our African expansion. This is our 14th country launch in sub-Saharan Africa in the past four years, we are fast becoming Africa’s Pizza of Choice,” a statement quoted the General Manager, Pizza Hut Africa, Ewan Davenport, as saying… More details through: https://punchng.com/pizza-hut-to-open-three-outlets-in-nigeria/ Coca-Cola, the global foremost beverage brand, is likely to complete acquisition of Nigeria’s Chi Limited, a top juice company, early next year, BusinessDay gathers. The value of the complete acquisition is still under wraps, but in 2016 Coca-Cola made initial equity investment of 40 percent in the company…
More details through: https://www.businessdayonline.com/exclusives/article/coca-cola-to-complete-acquisition-of-nigerias-chi-in-q1-2019/ U.S. firm, Coca-Cola, is planning to take over Nigerian company, Chi Limited, by the end of the first quarter of 2019. According to a report by Reuters, on Wednesday, the president of Coca-Cola’s West Africa business said the Atlanta-based company aims to complete the deal by the end of the first quarter of 2019…
More details through: https://www.premiumtimesng.com/business/business-news/284587-coca-cola-considers-buying-off-nigerian-firm.html |
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