Brands/Products
Adobe Buys Design Platform Figma for $20bn
By Adedapo Adesanya
Creative digital technology giant, Adobe, has entered into a definitive merger agreement to acquire Figma, a leading web-first collaborative design platform, for $20 billion in cash and stock.
In a press release seen by Business Post, it was stated that the combination of Adobe and Figma will usher in a new era of collaborative creativity.
“Adobe’s mission is to change the world through digital experiences. Today, the digital economy runs on Adobe’s tools and platforms, and throughout its history, the company’s innovations have touched billions of lives across the globe. From revolutionizing imaging and creative expression with Photoshop; to pioneering electronic documents through PDF; to creating the digital marketing category with Adobe Experience Cloud, Adobe continues to invent and transform categories,” the statement said.
When approved, Adobe and Figma will reimagine the future of creativity and productivity, accelerate creativity on the web, advance product design and inspire global communities of creators, designers and developers.
The combined company will have a massive, fast-growing market opportunity and capabilities to drive significant value for customers, shareholders and the industry.
Speaking on this, Shantanu Narayen, chairman and CEO, Adobe said — “Adobe’s greatness has been rooted in our ability to create new categories and deliver cutting-edge technologies through organic innovation and inorganic acquisitions.
“The combination of Adobe and Figma is transformational and will accelerate our vision for collaborative creativity.”
With Adobe’s and Figma’s expansive product portfolio, the combined company will have a rare opportunity to power the future of work by bringing together capabilities for brainstorming, sharing, creativity and collaboration and delivering these innovations to hundreds of millions of customers.
“Figma has built a phenomenal product design platform on the web,” said Mr David Wadhwani, president of Adobe’s Digital Media business. “We look forward to partnering with their incredible team and vibrant community to accelerate our joint mission to reimagine the future of creativity and productivity.”
On his part, Mr Dylan Field, co-founder and CEO, Figma notes that “With Adobe’s amazing innovation and expertise, especially in 3D, video, vector, imaging and fonts, we can further reimagine end-to-end product design in the browser, while building new tools and spaces to empower customers to design products faster and more easily.”
Figma has a total addressable market of $16.5 billion by 2025. The company is expected to add approximately $200 million in net new ARR this year, surpassing $400 million in total ARR exiting 2022, with best-in-class net dollar retention of greater than 150 per cent. With gross margins of approximately 90 per cent and positive operating cash flows, Figma has built an efficient, high-growth business.
The transaction is expected to close in 2023, subject to the receipt of required regulatory clearances and approvals and the satisfaction of other closing conditions, including the approval of Figma’s stockholders.
Upon the closing of the transaction, Mr Dylan Field, Figma’s co-founder and CEO, will continue to lead the Figma team, reporting to Mr David Wadhwani, president of Adobe’s Digital Media business. Until the transaction closes, each company will continue to operate independently.
Brands/Products
JMG Installs Solar Power Systems at Three NIPCO Fuel Stations
By Aduragbemi Omiyale
Nigeria’s trusted hybrid and integrated electromechanical energy provider, JMG Limited, has completed the installation of solar power systems at three key fuel stations of NIPCO Plc.
The clean energy source was installed at NIPCO’s petrol dispensing outlets in Gwagwalada Abuja, Lekki Lagos, and Mpape Abuja.
This will help the organisation eliminate diesel reliance, and unlock more than N44 million in annual energy cost savings.
The installations feature advanced hybrid systems, combining solar arrays, lithium battery storage, and smart inverters to provide 24/7 energy for fuel pumps, lighting, and office operations. Each site has reported zero use of electricity or generator power since the systems were installed.
The three NIPCO stations now run on an advanced hybrid solar system that combines high‑efficiency PV panels, intelligent lithium‑battery storage and smart inverters.
Since commissioning, the sites have operated with zero grid or generator power, providing silent, clean, uninterrupted electricity for pumps, lighting and administration.
“We are proud to help NIPCO lead the energy transition at the retail level.
“The scalable architecture can be sized to each location and has already delivered significant savings, about 88,535 kWh/year, N44.4 million in annual cost savings and a 43.8‑tonne reduction in CO₂ emissions,” the Head of JMG’s Hybrid Solar Division, Mr Abbass Hussein, stated, adding that, “Collaborating with NIPCO on this initiative demonstrates a practical pathway for other firms to reduce both emissions and energy expenses.”
Also commenting, NIPCO’s Station Manager at Gwagwalada, Mr Idoko Jacob, said, “The stations have not relied on electricity or generator power on bright-weather days since commissioning. The solar systems fully meet our daily energy needs during such periods. On days with poor weather, we supplement the solar system with generator power to ensure uninterrupted operations.”
Business Post gathered that the NIPCO Gwagwalada Station has a solar output of 42,450 kWh/year, annual savings of N15.6 million, and CO₂ reduction of 15,332.76 kg/year, with a system installed consisting of a 20kW Deye LV Hybrid Inverter, 26.8kWp Solar PV, and 51.2kWh Lithium Battery Storage.
The NIPCO Lekki Station has a solar output of 3,635 kWh/year, annual savings of N12 million, and CO₂ reduction of 13,130.1 kg/year, with a system installed consisting of a 25kW Must Hybrid Inverter, 22.95kWp Solar PV, and 76.8kWh Lithium Battery Storage.
As for the NIPCO Mpape Station, it has a solar output of 42,450 kWh/year, annual savings of N16.8 million, and CO₂ reduction of 15,332.76 kg/year, with a system installed consisting of a 20kW Deye LV Hybrid Inverter, 26.8kWp Solar PV, and 61.44kWh Lithium Battery Storage.
Brands/Products
MAGGI Unveils ‘Taste of Christmas’ Campaign
MAGGI, the culinary brand from Nestlé Nigeria, has announced the launch of its festive campaign, Taste of Christmas, designed to celebrate the sights, sounds, and flavours that define the Nigerian Christmas experience.
Central to the campaign is a collaboration with Nigeria’s fast-rising pop star Qing Madi and the renowned Loud Urban Choir, resulting in a new Christmas anthem titled Taste of Christmas.
Now available across all major music streaming platforms, the song blends contemporary sound with cultural warmth, evoking the joy of family, togetherness, and shared meals that characterize the season.
Extending beyond music, the Taste of Christmas campaign will roll out a curated series of festive recipes and culinary inspiration over a 12-day period. The collection features creative twists such as Coco Bongus, alongside beloved Nigerian classics, encouraging families to explore new flavours while enjoying MAGGI’s trusted range of seasonings.
Commenting on the campaign, the Category Manager for Culinary at MAGGI, Ms Funmi Osineye, said, “Christmas is a time when family, culture, and shared experiences come alive. With the Taste of Christmas campaign, we set out to create a platform that resonates strongly with today’s young adults while still celebrating the warmth of home. Partnering with Qing Madi and The Loud Urban Choir allows us to connect music and food in a way that feels authentic, modern, and deeply Nigerian.”
The campaign further reflects MAGGI’s commitment to celebrating home-grown talent, nurturing culinary creativity, and strengthening the role of food as a unifying force in Nigerian homes.
Consumers can access festive recipes, campaign content, and the Taste of Christmas anthem on MAGGI’s digital platforms and social media channels. Conversations around the campaign can be followed using #MAGGIChristmas.
MAGGI is a leading culinary brand from Nestlé Nigeria, committed to inspiring better cooking habits and bringing families together through delicious, nutritious meals.
Brands/Products
FG Suspension of Sachet Alcohol Ban Excites NECA
By Modupe Gbadeyanka
The decision of the federal government to suspend the ban on alcohol produced in sachets has been welcomed by the Nigeria Employers’ Consultative Association (NECA).
The Director-General of the group, Mr Adewale-Smatt Oyerinde, described it as a right step in the right direction because it respects existing National Assembly resolutions and restores regulatory clarity.
Recall that recently, the Office of the Secretary to the Government of the Federation (OSGF) ordered the suspension of the policy due to concerns raised by the House of Representatives Committee on Food and Drugs Administration and Control.
In a statement, the NECA chief said the immediate suspension of all enforcement actions relating to the proposed ban on sachet alcohol and 200ml PET bottle products, pending the conclusion of consultations and the issuance of a final policy directive, was good for the industry and the economy.
According to him, the sachet and PET segment of the alcoholic beverage industry accounts for a significant portion of the estimated N800 billion invested in the sector and supports thousands of direct and indirect jobs in manufacturing, packaging, logistics, wholesale and retail.
He stressed that in an economy already struggling with high unemployment and rising business costs, abrupt policy measures that threaten existing jobs and legitimate investments would be counterproductive.
“We fully acknowledge the need to address public health concerns, especially regarding children and young people, but the solutions must be evidence-based and carefully designed so as not to drive activities into the informal and unregulated economy or encourage illicit products.
“We are looking forward to a deepened consultation to enable the protection of jobs, livelihoods and legitimate investments, etc., while also ensuring that public health objectives are effectively and sustainably achieved,” Mr Oyerinde said.
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