Economy
Isedowo Initiative Has Boosted Our Businesses—Beneficiaries
By Dipo Olowookere
Winners of Isedowo empowerment initiative of Goldberg lager beer have affirmed that the scheme has indeed provided them huge relief from financial challenges hitherto faced in expanding their businesses.
So far, 32 artisans and small scale business operators have been supported with N300,000 each by Isedowo in Osun and Ekiti States, while the project continues in other Southwest states. In all, Goldberg will support 100 entrepreneurs through Isedowo across the Yoruba speaking states.
Ojo Adeosun, a fashion designer, who was overjoyed after receiving the grant, said the N300,000 was a huge upliftment from financial challenges as it helped him in purchasing a new sewing machine he had always required to expand his business. He disclosed that he also started selling fabrics and now has three apprentices working with him.
On his part, Kayode Tope Ogunro, a photo/videographer, disclosed that he had almost concluded arrangement to buy a camera and video lights from a friend in Lagos and intended to open a studio with the grant from Isedowo.
He said he would also employ an assistant to further expand his business. Ogunro advised other entrepreneurs to come up with good business ideas with positive impacts on the society.
Ayodele Adebalogun, an aluminium fabricator, said Isedowo provided a relief from the daunting struggle to raise capital. He disclosed that he participated in the scheme with his wife, who is a caterer, but the judges did not deem her proposal fit enough for selection.
He added that after buying a new cutting machine for his work, he supported his wife’s business with parts of the grant.
Alo Babatope, an auto mechanic, and Ade Akinyemi, a welder, both commended Goldberg, stating that the scheme was timely. Babatope, who holds a certificate in automotive programme from the University of Ibadan, said he bought a launch diagnostic machine used for all brand of cars with the grant.
Akinyemi lauded Goldberg for creating wealth and job opportunities in the Southwest. He added that the grant helped him in expanding his business enterprise as he was able to purchase a welding machine he had longed to have.
“Isedowo has taken that burden off me and I am now a happy man. Goldberg deserves the name ‘Your Excellency’ because it has put smiles on faces of people in distress,” Akinyemi affirmed.
Speaking on Isedowo, the Portfolio Manager, Mainstream Lager and Stout brands, Nigerian Breweries Plc, Mr Emmanuel Agu said Goldberg has, through the empowerment initiative, extended its affinity with the people of the Southwest beyond culture and tradition to entrepreneurship.
To benefit from the project, interested participants are expected to showcase their business ideas and how they impact the society.
Isedowo, which was launched last month by the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi Ojaja II, has received wide commendation from prominent monarchs in the Southwest. Having supported entrepreneurs in Osun and Ekiti States, the scheme will be activated in Oyo State next month.
By Aduragbemi Omiyale
Barring any last-minute changes, the 50th Annual General Meeting (AGM) of Champion Breweries Plc will take place on Thursday, May 21, 2026, at the Oriental Hotel, Victoria Island, Lagos, at 11:00 am.
At the yearly shareholders’ gathering, some of the key statutory and governance matters to be considered will include the Audited Financial Statements for the year ended December 31, 2025, alongside the Reports of the Directors, Auditors, and the Audit Committee.
Other agenda items are the declaration of dividends, election and re-election of Directors, authorisation for Directors to determine the remuneration of the Auditors, and election/re-election of shareholders’ representatives to the Audit Committee.
In line with its commitment to transparency, accountability, and shareholder engagement, the AGM will be held physically while also being accessible to stakeholders via the company’s official website: www.championbreweries.com.
This year’s AGM comes at a defining moment in the organisation’s corporate journey, following a transformative year marked by strategic expansion initiatives, including the acquisition of Bullet Energy Drink and its successful engagement with the capital market to raise growth capital.
These developments reinforce Champion Breweries Plc’s commitment to strengthening its competitive positioning, expanding its portfolio, and delivering long-term shareholder value.
The brewer has strengthened its transition into a group structure with the acquisition of an 80 per cent stake in enJOYbev B.V., a strategic move already delivering early earnings contribution and validating its international expansion drive.
The subsidiary’s results are now being consolidated into the Group accounts for the first time, with enJOYbev B.V. already contributing positively to earnings through operating profitability within the reporting period, an early validation of the group’s expansion strategy.
“This AGM reflects a defining chapter in our journey as a Company. The acquisition of Bullet, our successful capital market engagement, and the integration of enJOYbev B.V. into our group structure all signal a deliberate strategy for sustainable growth and diversification.
“These milestones position Champion Breweries Plc for stronger performance, broader market reach, and enhanced shareholder value. We remain committed to disciplined execution, operational excellence, and the highest standards of corporate governance,” the chairman of Champion Breweries, Mr Imo Abasi Jacob, said.
By Adedapo Adesanya
The Nigeria Revenue Service (NRS) has unveiled a unified Taxpayer Identification (Tax ID) system for all taxable persons across the country as part of efforts to strengthen tax administration and improve transparency.
The agency announced the development in a public notice issued jointly with the Joint Revenue Board (JRB) on Monday.
According to the notice, the initiative is backed by Sections 6, 7, and 8 of the Nigeria Tax Administration Act, 2025, which mandate every taxable person in Nigeria to obtain a Tax ID, in a wider move to expand the country’s tax base.
The NRS said the new framework is designed to create a centralised and harmonised taxpayer database that would enhance interactions between taxpayers and revenue authorities at both federal and sub-national levels.
“The Tax ID will serve as a single, unified identity for all taxpayers, enabling seamless interaction with tax authorities at both federal and sub-national levels. It is designed to consolidate taxpayer records, eliminate duplication, and ensure more efficient management of tax-related information,” the agency stated.
The revenue agency explained that the new system would simplify tax compliance procedures, including taxpayer registration, filing of returns, and payment processes.
According to the NRS, the framework is also expected to improve accountability and reduce leakages in tax collection by creating better visibility and tracking of taxpayer information nationwide.
“The initiative will simplify tax compliance processes, including registration, tax filing, and payment procedures. The system will improve transparency by enabling better visibility and tracking of taxpayer records while reducing leakages and improving accountability in tax collection. The framework will also harmonise taxpayer information across all levels of government,” the notice added.
The agency further disclosed that the new Tax ID system would replace the existing Tax Identification Number (TIN) Validation API currently used by Ministries, Departments and Agencies (MDAs), financial institutions, and other organisations for taxpayer verification.
By Adedapo Adesanya
Three bellwether stocks weakened the NASD Over-the-Counter (OTC) Securities Exchange by 1.31 per cent on Monday, May 18.
This brought the NASD Unlisted Security Index (NSI) by 54.71 points to 4,133.70 points from 4,188.41 points, and shrank the market capitalisation by N32.73 billion to N2.473 trillion from N2.506 trillion.
Yesterday, FrieslandCampina Wamco Plc contracted by N12.45 to sell at N146.55 per share compared with last Friday’s closing price of N159.00 per share, Central Securities and Clearing System (CSCS) Plc declined by N2.34 to N70.00 per unit from N72.34 per unit, and NASD Plc lost 50 Kobo to trade at N34.50 per share versus N35.00 per share.
The trio overpowered the N5.56 gained Newrest Asl Plc. This stock ended the trading session at N61.15 per unit, in contrast to the previous session’s N55.59 per unit.
During the trading day, the volume of securities traded by investors slid by 56.1 per cent to 514,142 units from 1.2 million units, and the value of securities dropped 29.8 per cent to close at N17.4 million versus N29.8 million, while the number of deals jumped 12.5 per cent to 27 deals from 24 deals.
Great Nigeria Insurance (GNI) Plc remained the most traded stock by value on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 60.8 million units exchanged for N4.1 billion, and Okitipupa Plc with 27.9 million units traded for N1.9 billion.
GNI Plc also ended the day as the most traded stock by volume on a year-to-date basis with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units transacted for N1.2 billion.
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