Africa Food Manufacturing & Safety Summit (AFMASS) Conference & Expo – Western Africa edition

AFMASS Western Africa is the largest food, beverage and milling industry's largest conference and exhibition attended by key decision makers from Western Africa Africa to trade, network and learn the latest processing, packaging and safety technologies. Bringing together delegates and visitors from Nigeria, Ghana, Cameroon, Benin, Ivory Coast and surrounding countries in Western Africa, AFMASS…

Nigeria partners Brazil through US$ 1.1b investment loan to boost agriculture

NIGERIA – The federal government of Nigeria has taken a US$1.1 billion loan from Brazil to boost agricultural sector and create 5 million jobs, reports Premium Times The programme under the name “The Green Imperative” was inaugurated by Vice President Yemi Osinbajo and the Brazilian Ambassador to Nigeria, Ricardo Guerra de Araujo. Osinbajo said that…

Chi Limited Launches ‘Frooty Happy Hour by Chivita’

NIGERIA – Chi Limited, a major producer of juice brands in Nigeria, has launched ‘Frooty Happy Hour by Chivita’ which the company says is produced to deliver natural fruity refreshment at an affordable price point. The new product comes into the market following the success of its major brand Happy Hour by Chivita fruit drink.…

Central Bank of Nigeria to compensate 550,000 rice farmers

NIGERIA – The Rice Farmers Association of Nigeria (RIFAN) said that the Central Bank of Nigeria (CBN) has approved compensation via loan for over 550,000 rice farmers affected by the 2018 flood disaster, reports the Vanguard. RIFAN National President, Aminu Goronyo, revealed that CBN governor had directed that the loans should be restructured for a…

Flour Mills of Nigeria’s year profit hit by 10% drop in sales revenue

NIGERIA – Flour Mills of Nigeria has posted sales revenue of US$743.26 million for the half year operations ended September 2018, a drop of close to 10% year-on-year.  An impressive growth of 54% in after tax profit in the last financial year has shifted to a 46% drop in the bottom line at the end…

Nigeria’s Yam Committee to export 5,760 tonnes in 2019

NIGERIA - The Technical Committee on Nigeria Yam Export said it is targeting the exportation of more than 5,760 tonnes of yam to different countries in 2019, reports the Vanguard. However, Prof. Simon Irtwange, Chairman of the committee has highlighted existences of the 1986 Export Prohibition Act and logistics problems as some of the major…

NSE downgrades Nigerian Breweries stock to medium-priced status

NIGERIA – The Nigerian Stock Exchange (NSE) reclassified Nigerian Breweries Plc stock from its previous high-priced stock to medium-priced stock following a fall of the brewer’s stock price below the required High-Priced Stock threshold. According to Beverage Industry News, NSE issued a circular that the downgrade was as a result of a review it conducted…

Nigeria’s Notore Chemical reports 123% loss for FY 2018 as 3 directors exit

NIGERIA – Notore Chemical Industries Plc, a Nigerian agro-allied products manufacturer, reported a 123% loss in its financial position for 2018, reports Premium Times. The company has been experiencing declining fortunes in recent years, with its latest financial report as at September 2018 showing 123 percent loss, from N8.65billion profit recorded in 2017 to a…

Nigeria’s CWAY diversifies into alcoholic beverage, launches Cheers Cocktail

NIGERIA – CWAY Foods and Beverages Nigeria Limited, a renowned fruit-flavoured milk drinks and drinking water company has diversified its operations into the alcoholic Ready-to-drink (RTDs) with the launch of “Cheers Cocktail”, reports Beverage Industry. Speaking during the commissioning of the factory, General Manager, Mr. Wang Bing said that the new premium brand has been…

T&G Pharma launches Valio lactose free milk powder in Nigeria

NIGERIA - Thompson & Grace Pharmaceuticals Limited (T & G Pharma), a leading pharmaceutical company in Nigeria has launched Valio milk powder, a lactose free milk powder into the country, reports Beverage Industry News. Managing Director/Chief Executive Officer of T & G Pharma, Dr. Isaac Amos said that Valio milk is produced in Finland by…