Guinness Nigeria to Expand Benin City Factory

Image

By Adedapo Adesanya

Guinness Nigeria Plc has announced plans to expand its factory in Benin City, Edo State as part of efforts to deepen investment and boost job creation in the Heart Beat of Nigeria.

At a presentation on Tuesday, Mr Baker Magunda, the Managing Director of Guinness Nigeria, said during a courtesy visit to the acting Governor of Edo, Mr Philip Shaibu, that the brewery giant would also invest in clean water projects for both the company’s utilisation and communities in the state.

“We are interested in the opportunities we see in Edo, Guinness success is beyond dividends for shareholders but the impact on job creation as well as the development of host communities.

“Water is important in what we do and we have invested in water recycling to save water and to enable host communities to access potable water,” he said.

Mr Magunda also informed the acting governor of what the company was doing to promote equal job opportunities, reduce climate change as well as protection of the environment.

“We have initiated an association called Food and Beverage Recycling Alliance, it is involved in collecting disposed materials like plastic, to limit harm to the environment.

“We are also involved in clean energy projects in West Africa and our goal is to take the project to a sustainable level.”

He added that the visit was to appreciate the state government for its long-standing support of the brewery’s investment in Edo State.

Also speaking, Mr Rotimi Odusola, the Corporate Relations Director, Guinness Nigeria, said the company’s water recovery plant in the state would be inaugurated in a month’s time.

Mr Odusola said the plant had a capacity to treat 800,000 cubic meters of water per day, noting that the brewer was also involved in the empowerment of women in the state as well as enrollment of students in host communities in scholarship scheme.

Mr Shaibu, while commending the social corporate responsibility components of the company, sought the company’s sponsorship for sporting activities in the state.

Mr Shaibu said: “We will like you to sponsor our programmes, especially sporting activities; the easiest way to reduce youth restiveness is engaging them in sports.

“We have identified 15 sporting events that we want to revamp in the state starting from January 2023.

“We want to take back our place in sports, we now have a standard lawn tennis court and we want Guinness to take advantage of branding the court with its different brands.”

He also assured of the government’s support in the brewery’s site expansion project in the state noting that the state promotes a private sector-driven economy.

“When we have companies like you, issues of energy, and clean water can be addressed by both government and private sector for the betterment of the people,” he said.

Share
Related Stories
Image
05-December-2023

FG Confirms Sponsoring 422 Delegates to COP28

By Adedapo Adesanya The federal government has announced that only 422 of the total 1,411 Nigerian delegates at the ongoing COP28 were funded with taxpayers’ money. This clarification followed the outrage over the size of Nigeria at the conference in Dubai, the United Arab Emirates (UAE). The Minister of Information, Mr Mohammed Idris, disclosed this in a statement on Monday evening amidst concerns by Nigerians about the large number of the country’s delegates at the climate change conference in Dubai. Business Post had reported that Nigeria was joint third with China behind the UAE and Brazil among all the countries

Image
01-December-2023

Nasarawa Assembly Elects New Speaker, Deputy

By Bliss Okperan The Nasarawa State House of Assembly has announced its election of Danladi Jatau, representing Kokona West Constituency, as the new Speaker. The state parliament also disclosed on Friday that it now has a new Deputy Speaker, who is Mohammed Oyanki, the lawmaker representing Doma North Constituency. The election of the two principal officers of the legislative arm of the state followed the sacking of its former Speaker, Mr Ibrahim Abdullahi, by the Appeal Court sitting in Abuja on Tuesday. While the new Speaker is a member of the All Progressives Congress (APC), his deputy is a member

Image
07-December-2023

NUPRC Unveils Regulatory Framework for Energy Transition

By Adedapo Adesanya The Nigeria Upstream Petroleum Regulatory Commission (NUPRC) has unveiled the regulatory framework for energy transition, decarbonisation, and carbon monetization for upstream operations in Nigeria. The Commission Chief Executive, Mr Gbenga Komolafe, unveiled the regulatory framework at COP28 in Dubai, the United Arab Emirates (UAE) themed Driving Sustainable Upstream Operations to Achieve Just and Equitable Energy Transition.  Mr Komolafe noted that the regulatory framework has Natural Gas shift, zero routine gas flaring and methane abatement, carbon market development, and upstream operations efficiency as its key pillars. Others include technology and innovation, incentive mechanisms, collaboration, and risk management. According

Image
05-December-2023

Kaduna Bombing: Tinubu Orders Probe as NEMA Confirms 85 Killed

By Adedapo Adesanya President Bola Ahmed Tinubu on Tuesday ordered an investigation after the army acknowledged one of its drones accidentally struck Tudun Biri village as residents were celebrating a Muslim festival. The army did not give any casualty figures, but residents claimed 85 of them, who were mainly women and children, died in the attack, which has sparked public outrage. On its part, Amnesty International’s Nigeria office said 120 people were killed in the attack, citing reports of its workers and volunteers in the area. But the North-West zonal spokesperson of the National Emergency Management Agency (NEMA), Mrs Halima

More Stories
Image
26-October-2017

Total Nigeria Proposes N3 Interim Dividend

By Modupe Gbadeyanka The board of directors of Total Nigeria Plc has proposed the payment of an interim dividend of N3 to its shareholders. The oil firm, which released its third quarter earnings to the Nigerian Stock Exchange (NSE) today, said the payment date for the interim dividend is December 18, 2017. According to a statement issued by the company, the qualification date for the dividend is December 1, 2017, while the closure date is from December 4-8, 2017. In the financial statements released today by Total, its revenue boosted to N221.2 billion during the period from N220.2 billion last

Image
28-December-2017

Window Dressing May Lead to Strength on Wall Street

By Investors Hub The major U.S. index futures are pointing to a higher opening on Thursday, with stocks poised to add to the modest gains posted in the previous session. So-called window dressing may contribute to early strength on Wall Street, as investors look to polish their portfolios going into the end of the year. Nonetheless, many traders are likely to remain away from their desks ahead of the New Year?s weekend, leading to another light trading day. After ending Tuesday?s session modestly lower, stocks turned in another lackluster performance during trading on Wednesday. The major averages fluctuated over the

Image
13-May-2022

Oil Rises as Supply Concerns Displace Bearish Factors

By Adedapo Adesanya Oil prices return to gaining ways on Thursday as supply concerns, as well as geopolitical tensions, offset bearish factors such as worries about economic fears. Brent crude gained 0.1 per cent or 11 cents to sell for $107.60 per barrel while the United States West Texas Intermediate (WTI) crude rose by 0.45 per cent or 48 cents to $106.2 per barrel. The European Union (EU) had proposed a comprehensive oil embargo against Russia for the first time, as Moscow continues its war on Ukraine and it hopes Europe will stop importing Russian oil by the end of

Image
10-January-2019

CBN to Auction N823.5b Fresh Treasury Bills in Q1 2019

By Dipo Olowookere Treasury bills worth N823.5 billion would be offered for sale to investors in the first quarter of 2019, the Central Bank of Nigeria (CBN) has said. In the Nigerian Treasury Bills Issue Programme First Quarter 2019 released by the central bank, a total of N985.9 billion worth of the debt instruments will mature in the period under review. Business Post reports that the apex bank has already conducted the first sale of T-bills via primary market auction. This exercise was conducted on Wednesday, January 2, 2019 and it was oversubscribed by market players. In the calendar released

Image
17-February-2017

G20 Partners Oyo on Job Creation

By Dipo Olowookere A multinational youth entrepreneurship group called the G20 Youths Entrepreneur Alliance (YEA) has promised to work with the Oyo State Government to create employment opportunities for the teeming youths in the State. The Director General, Citizens Enterprises, Mr Jean-Louis Gregoire, who led the Youths Entrepreneur Alliance members on a courtesy visit to the state Governor, Mr Abiola Ajimobi said the group was in the state to foster sustainable ways that would help to set up youths empowerment schemes to reduce poverty among the young ones. According to Mr Gregoire, “Our objective is to look into how to

Image
06-October-2022

How to Download 1xBet App in Nigeria?

Mobile betting has never been so thrilling and effective in Nigeria as it is now with the 1xBet application. The state of the wagering experience on your gadget sometimes seems to be even smoother compared to the desktop version. The bookmaking company has invested tons of money and time in application development, and now the whole effort pays off with satisfied Nigerian customers and a large, loyal 1xBet playerbase. In this article, we’re going to take a closer look at the undertaking of downloading a 1xBet mobile app and highlight the advantages of the app. 1xBet, the bookie that was

Image
16-April-2021

Dangote, BUA Agree to End Sugar War

By Aduragbemi Omiyale The dispute over the control of the sugar industry in Nigeria between Dangote Group and BUA Group seems to have ended if the resolutions reached during a meeting held recently are anything to believe. The owners of the two companies, Mr Aliko Dangote of Dangote Group and Mr Abdussamad Rabiu of BUA Group had been in a silent sugar war and it is over who takes charge of the sector in Nigeria. It was reported earlier that Mr Dangote wrote a petition to the Minister for Commerce, Trade and Investment, Mr Niyi Adebayo, alleging that BUA was

Image
26-April-2022

DMO Allots N348.58bn to Competitive, Non-Competitive Bond Subscribers

By Modupe Gbadeyanka The Debt Management Office (DMO) on Monday auctioned the federal government of Nigeria (FGN) bonds worth N225.00 billion to investors in the local bond market for the month of April 2022. However, the DMO eventually allotted more than what was offered for sale during the exercise, selling N348.58 billion to competitive and non-competitive bond subscribers. A breakdown of details of the bond auction indicated that the agency in charge of the nation’s debt profile allotted N219.88 billion worth of the debt instruments through competitive bids, while the non-competitive allotment was N128.70 billion. The DMO took to the

Ad
Ad
Recent Stories
Image
09-December-2023

Moody’s Upgrades Nigeria’s Outlook to Positive After Economic Reforms

By Aduragbemi Omiyale Moody’s outlook on Nigeria has been upgraded from stable to positive after the federal government implemented a few economic reforms. In a statement on Friday, the rating agency said the decisions to remove the costly petrol subsidies, devaluation of the Naira and the unification of the foreign exchange (FX) market were good for the economy. When Mr Bola Tinubu assumed office in May 2023, he announced an end to the payment of subsidies on premium motor spirit (PMS). A month later, the Central Bank of Nigeria (CBN) announced the unification of the forex market, while the Naira

Image
09-December-2023

Value of Nigeria’s Unlisted Stock Exchange Reaches N1.2trn

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded a 1.6 per cent appreciation on Friday, December 8, as investors gained about N19.12 billion to push the valuation of the unlisted bourse to N1.202 trillion from the N1.182 trillion it closed in the preceding session. This achievement was influenced by the gains recorded by the trio of Aradel Holdings Plc, FrieslandCampina Wamco Nigeria Plc, and Central Securities Clearing System (CSCS) Plc. Data showed that Aradel Holdings Plc improved its value by N30 to settle at N900.00 per unit compared with the previous day’s N870.00 per unit, FrieslandCampina Wamco Nigeria

Image
09-December-2023

Naira Crashes to N1,099.05/$1 at Official Market

By Adedapo Adesanya The Nigerian Naira weakened to a new low on the American Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, December 8, amid speculations that the Central Bank of Nigeria (CBN) has again devalued the local currency. In the previous trading session, there were reports that the exchange rate for clearing cargoes has been raised to N952/$1, sparking rumours that domestic currency would hit N1,000/$1 in the spot market. On the last trading session of the week, the Naira lost N255.98 or 30.4 per cent of its value on the greenback to trade at N1,099.05/$1

Image
09-December-2023

Nigerian Exchange Rises 0.12% Amid Weak Investor Sentiment

By Dipo Olowookere A 0.12 per cent appreciation was recorded by the Nigerian Exchange (NGX) Limited on Friday, reversing the previous day’s losses triggered by profit-taking in the banking sector. Business Post reports that it was the same banking space that influenced the growth posted yesterday, rising by 1.60 per cent, supported by the consumer goods indices, which appreciated by 0.15 per cent. However, there were pockets of profit-taking during the last trading session of the week, with the insurance sector shedding 0.78 per cent, the industrial goods sector losing 0.65 per cent, and the energy counter declining by 0.57

Image
09-December-2023

Crude Prices Up 2% on US Demand Growth Expectations

By Adedapo Adesanya Crude oil prices rose more than 2 per cent on Friday after data from the world’s largest oil producer, the United States, supported expectations of demand growth. Brent crude futures settled at $75.84 a barrel after chalking up $1.79 or 2.4 per cent, as the US West Texas Intermediate (WTI) crude futures traded at $71.23 after gaining $1.89 or 2.7 per cent. Despite the gain at the final session of the week, both benchmarks fell for a seventh straight week, their longest streak of weekly declines in half a decade, on lingering oversupply concerns. For the week,

Image
08-December-2023

PZ Cussons Nigeria Publishes List of 61,628 Shareholders With Unclaimed Dividends

By Aduragbemi Omiyale One of the players in the personal healthcare and consumer goods sectors, PZ Cussons Nigeria Plc, has published a list of its shareholders with unclaimed dividends. Unclaimed dividends are cash rewards given to investors, mainly from the profits from the company’s operations, but are yet to be collected by the beneficiaries. This has been a major source of sleepless nights for the Securities and Exchange Commission (SEC), which is working to bring down the number of unclaimed dividends. It has been reported that the value of unclaimed dividends in the nation’s stock market is over N185 billion.

Image
08-December-2023

CBN Raises Alarm on Fake Naira Notes, Threatens Prosecution

By Adedapo Adesanya The Central Bank of Nigeria (CBN) has cautioned Nigerians to be wary of fake Naira notes currently in circulation, vowing to prosecute those engaged in the illicit acts. The apex bank in a release signed by Mrs Hakama Sidi Ali, the acting Director of Corporate Communications, said the counterfeit notes have been spread by some individuals for transactions in food markets and other places where commerce takes place across the country, noting that this is a punishable offence. “The attention of the Central Bank of Nigeria (CBN) has been drawn to the circulation of counterfeit banknotes, especially

Image
08-December-2023

Nigeria’s Crude Output Falls 30,000 Barrels Daily to 1.43mbpd in November

By Adedapo Adesanya Nigerian crude output fell by 30,000 barrels per day to 1.43 million barrels per day in November, according to data from an S&P Global Commodity Insight. This was lower than the 1.46 million barrels produced in October by Africa’s largest oil producer and 312,000 barrels per day short of its 1.742 million barrels per day target in 2023. Angola, Africa’s second-largest oil producer, saw output drop 20,000 barrels per day to 1.13 million barrels per day, according to the survey, compared with its quota of 1.46 million barrels per day. The drops impacted the wider output of

Image
08-December-2023

New Survey: Some Nigerian Bank Adverts Are Misleading—Customers

By Aduragbemi Omiyale Some aggrieved customers have accused Nigerian banks of lying about a few of their services in adverts in the media and not doing enough to assist when needed, despite using the provided platforms to lodge their complaints. In a survey conducted recently by a foremost perception consulting firm in the country, CMC Connect LLP, it was observed that some financial services consumers in Nigeria are not satisfied with what they get from their banks. The perception study carried out by the Strategy & Intelligence Service unit of CMC Connect showed that, “Consumers do not have enough information

Image
08-December-2023

Delta State Proposed Budget 2024 and Critical Concerns

By Jerome-Mario Utomi It is common knowledge that Delta State Governor, Sheriff Oborevwori, recently, presented a N714.4 billion Appropriation Bill tagged ‘Budget of Hope and Optimism,’ for the 2024 fiscal year to the state House of Assembly. What is, however, uncertain to Deltans and the watching world is whose interest the bill, if passed, is meant to serve or protect. There is also the concern as to whether it will herald into the political geography called Delta state, a just or an unjust law. As we are now, a just law is ‘a man-made code that squares with moral laws