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…

Indomie maker buys two Dangote noodles plants for US$12m

NIGERIA - Dangote Noodles Limited, a unit of Nigerian company Dangote Flour Mills, has sold two production lines in Ikorodu and Calabar, to rival pasta maker De United Foods Industries, maker of Indomie Noodles. The transaction is valued at 3.75 billion naira ($12.26 million). De United said it has signed an agreement with Dangote Noodles…

Backward integration has built our capacity, improved local content – Nestle MD

NIGERIA - The Managing Director, Nestle Nig Plc, Mr. Mauricio Alarcon, has said his company’s Backward Integration Policy (BIP) and the use of more familiar and common ingredients has not only improved the nutritional profile of their products, but also boosted the economy. At the launch of the company’s new variant of seasoning, Maggi Naija…

Govt orders repatriation of imported genetically modified maize

NIGERIA – The National Biosafety Management Agency (NBMA) says it has, in conjunction with the Nigerian Customs Service, ordered that the genetically modified (GM) maize consignment illegally imported into Nigeria be sent back. Dr Rufus Egbegba, the Director-General of NBMA, said this in a news conference on Tuesday in Abuja. “In view of the information…

Dangote Flour records robust third quarter growth

NIGERIA - Dangote Flour Mills Plc (DFM) has demonstrated a high level of corporate governance that drives confidence and supports numbers, as contained in its recent financials for the nine-month ended September 30, 2017 released to the investing public. The release was, among other reasons, to allow investors plan their investment and forecast the company's…

NAFDAC slashes registration fees for food products by 50%

NIGERIA - The National Agency for Food and Drugs Administration and Control NAFDAC has slashed the registration fees for food and products by business outfits by 50%. The acting Director General, Mr. Ademola Mogbojuri, who disclosed this in Minna, Niger state on Monday, said that the decision was to boost manufacturing of goods and other…

Nigerian Breweries records profit, as revenues rise 14%

NIGERIA - Nigerian Breweries Plc has announced an interim dividend of N7.997 billion (US$22m) for the nine months ended September 30, 2017. The dividend, which translates to N1.00 per share, was recommended following improved performance recorded by the leading brewing firm for the nine months. Nigerian Breweries posted revenue of N254.7 billion (US$708m) in 2017,…