Arla introduces of chocolate and strawberry flavours milk powders

NIGERIA - TG Arla Nigeria, makers of Dano Milk has upped the stakes with the introduction of chocolate and strawberry flavoured milk powder variants into the Nigerian market. According to the company, the newly introduced strawberry and chocolate milk powder were launched following intense consumer research that informed increasing desire for a convenient and exciting…

Nigeria’s rice importation dropped by 95% in two years – Minister

NIGERIA - The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, says rice importation into Nigeria has dropped by 95 per cent in the last two years. Ogbeh said this on Thursday in Abuja at the first Annual NACCIMA-NIRSAL Agribusiness and Policy Linkage Conference, which has “Implementing the Agriculture Component of the Economic Recovery…

Flour Mills formally applies for US$111 million in rights issue

NIGERIA - Flour Mills of Nigeria Plc at the weekend submitted formal application to the Nigerian Stock Exchange (NSE) seeking to raise N39.9 billion (US$111 million) in new equity funds from existing shareholders. A regulatory filing at the NSE at the weekend indicated that Flour Mills of Nigeria plans to raise N39.85 billion through a…

Vice President inaugurates 5,000 tonnes cashew processing plant

NIGERIA - Vice President Yemi Osinbajo has inaugurated a 5,000 tonnes per year capacity cashew processing factory in Ilorin, Kwara State capital. He was accompanied by the governor of the state, Abdulfatah Ahmed; Minister of Information and Culture, Lai Mohammed; CEO/Executive Director, Nigerian Export Promotion Council (NEPC), Olusegun Awolowo and Executive Director, Bank of Industry…

Foreign investors buy out Nigerian shareholders in Seven-Up

NIGERIA - Seven-Up Bottling Company Plc has received an offer from its majority shareholder, Affelka, a privately-owned Lebanese firm, to buy out the minority shareholders for N19.33 billion ($60 million). Seven-Up said in a notice to the Nigerian Stock Exchange, NSE, yesterday that Affelka has offered to buy all the outstanding and issued shares of Seven-Up that…

Importers frustrating Govt’s tomato policy, say stakeholders

NIGERIA - Stakeholders in the agriculture sector say Nigeria is yet to feel the impact of the tomato policy six months after it was put in place by the Federal Government. The News Agency of Nigeria (NAN) reports that the stakeholders told participants at Agra Innovate West Africa forum on Tuesday in Lagos that Nigerians…

Malta Guinness Herbs Lite wins innovation and creativity award

NIGERIA - Malta Guinness Herbs Lite, a malt brand from the stables of Guinness Nigeria Plc has won the ‘Fair Competition and Creativity Nigeria Awards’ (FCCNA) for its innovation and creativity. The award ceremony which took place on Thursday, November 9th, 2017 at the Lagos Chamber of Commerce and Industry was organized by the Consumer…