Nigerian rice processor to invest US$50m in new high capacity processing plant

NIGERIA – Darma Rice Mill Ltd has unveiled plans of investing about US$50 million (N15.2 billion) in setting up a new rice mill with an annual capacity of processing 600,000 tonnes. According to a report […]

Dangote’s NASCON to drive growth in market share through product innovation

NIGERIA – NASCON Allied Industries Plc, a food processing company and subsidiary of Dangote Industries, is targeting to grow its more market share in Nigeria’s food sector through increased product range and innovation. Speaking at […]

Nigeria Eat n’ Go opens 100th fast food outlet in US$27.78m investment plan

NIGERIA – Eat n’ Go Limited, Nigeria’s franchisee for Domino’s Pizza, Cold Stone Creamery and Pinkberry gourmet frozen yoghurt, has opened a new outlet in Lagos. Speaking at the unveiling in Lagos recently, Patrick McMichael, […]

Nestlé Nigeria reiterates commitment to addressing plastic packaging waste

NIGERIA – Nestlé Nigeria Plc has reiterated its commitment in addressing plastic packaging pollution in the country through engaging in various environmental conservation initiatives. Speaking while commemorating this year’s World Oceans Day in Nigeria, the […]

NIRSAL secures US$12.48m funding to finance Nigeria’s agriculture sector

NIGERIA – The Nigerian Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) has secured a total of US$12.48 million (N4.5bn) from four deposit money banks to boost cereal production in the country. According to a […]

Cormart Nigeria inaugurates caramel plant to boost production capabilities

NIGERIA – Cormart Nigeria, a chemicals and raw materials company, has commissioned a new caramel plant to boost supply to the food and beverage sector. The plant, located at its factory in the Lagos, has […]

Nestlé partners with AGRA to support young agriculture entrepreneurs in West Africa

WEST AFRICA – Nestlé Central and West Africa (CWA) and the Alliance for a Green Revolution in Africa (AGRA) have launched a new joint initiative aimed at catalysing development of agri-food businesses in West Africa […]

Nigerian Breweries receives international quality awards at Monde Selection

NIGERIA – Nigerian Breweries Plc received three Gold Quality Awards of its brands during the recently held Monde Selection Awards in Rome, Italy. During the 58th Annual Awards Ceremony of Monde Selection, the beverage manufacture’s […]

Nigeria’s edible oil producer Presco reports 25% decline in profits

NIGERIA – Presco Plc, an edible oil processing firm in Nigeria, reported 25% decline in profits for the year ended December 31, 2018 to US$12.03 million (N4.284bn), down from US$16.08 million (N5.726bn) the previous year. […]