Nigeria secures key fertilizer production ingredient from Russia to boost local production

December 3, 2019December 3, 2019 Food Business Africa

NIGERIA – The Federal Government on Monday entered into an agreement with a Russian firm, Uralchem, on fertiliser production in Nigeria. The signing which was done under the Presidential Fertiliser Initiative (PFI) will see Russia […]

Nigerian Stock Exchange delists Dangote Flour Mills after takeover

November 26, 2019November 27, 2019 Clement M.

NIGERIA – The Nigerian Stock Exchange has delisted the entire issued share capital of Dangote Flour Mills Plc from its listing effective Monday, 18 November 2019. The statement issued by the Nigerian bourse read in […]

Brazil Proposes US$1bn support promoting Nigeria’s agribusiness financing

November 26, 2019November 26, 2019 Food Business Africa

NIGERIA – The government of Brazil has set aside US$100 million to boost Nigeria’s agribusiness sector which is part of US$1 billion Brazil plans to channel into the sector in the next three years in […]

Nigeria Aviation Handling Company to build export processing zone in airport to boost agricultural exports

November 25, 2019November 25, 2019 Food Business Africa

NIGERIA – The Nigeria Aviation Handling Company has concluded plans to build an export processing area at the Murtla Muhammed International Airport, Lagos. NAHCO Group Managing Director, Mrs Tokunbo Fagbemi, revealed this, adding that the firm […]

CHI Limited launches Hollandia Lactose Free Easy-to-Digest Milk

November 19, 2019November 19, 2019 Food Business Africa

NIGERIA – CHI Limited, Nigeria’s fast-moving consumer good company has launched Hollandia Lactose Free Easy to Digest Milk targeting lactose intolerant consumers. The juice and dairy company has highlighted that the launch follows a research […]

AB InBev pumps US$339m into its Nigerian subsidiary International Breweries

November 19, 2019November 19, 2019 Clement M.

NIGERIA – Anheuser-Busch InBev (AB InBev) the parent company of International breweries has injected N123bn (US$339m) into the breweries operations, committing to participate fully in the new capital raising exercise. This follows the approval by […]

Nigerian Rice Mill injects US$13.4m to boost production capacity

November 15, 2019November 16, 2019 Food Business Africa

NIGERIA – Tiamin Rice Mill Limited has invested a total of US$13.37M to boost its production capacity from the current 320 tonnes to 1,520 tonnes per day in line with the Federal Government’s rice sufficiency […]

Flour Mills of Nigeria half year profits rise 16% to US$16.2m

November 14, 2019November 14, 2019 Food Business Africa

NIGERIA – Flour Mills of Nigeria Plc (FMN), one of Nigeria’s leading integrated food business and agro-allied company, has posted a 16% rise in profit after tax of N5.9 billion (US$16.2m) in its unaudited half […]

Dangote Sugar Refinery, Savannah Sugar Company plan to merge operations

November 6, 2019November 6, 2019 Food Business Africa

NIGERIA – Dangote Group Plc has announced its plans of merging with its two subsidiaries, Dangote Sugar Refinery (DSR) Plc and Savannah Sugar Company Limited (SSCL) into a single entity through a scheme of external […]

Int’l Breweries to raise US$458m through ‘rights issue’ to offset staggering losses and mounting debt

November 4, 2019November 4, 2019 Food Business Africa

NIGERIA – International Breweries Plc, the Nigerian unit of global brewer, Anheuser-Busch InBev is planning to raise N165bn (US$457.7m) in a share sale in order to reduce the mounting debt and reverse losses. This follows […]