Corporate and Commercial

Following the recent announcement of its business recovery plan, Nigerian Breweries Plc, yesterday, officially announced on the Nigerian Exchange Limited (NGX) plan to temporarily shut down   two of its plants as part of reorganisation. This move came after the company recorded a net…

The managing director of the Eko Electricity Distribution Company (EKEDC), Tinuade Sanda, has been relieved of her appointment with immediate effect. This is according to a letter signed by  the chairman of the DisCo, Dere Otubu, In the letter dated March 21, 2024, titled…

PZ Cussons Nigeria’s attempt to delist from the NGX has hit a roadblock as the Securities and Exchange Commission has declined the company’s request for its major shareholder, PZ Cussons (Holdings) to buy out other shareholders. According to a corporate disclosure seen by…

GB Foods, a leading culinary business across Africa and Europe has opened a N20 billion state-of-the-art tomato processing plant in Kebbi state to boost paste production in Africa’s most populous nation and help reduce import bill of the commodity. The farm and factory, spanning 1,500 hectares of land,…

Food and beverage companies Nestlé Nigeria Plc has posted a loss before income tax of N104 billion for the year 2023 compared to a profit before income tax of N71 billion for 2022. In a 2023 financial statement of the company published on…

Cement manufacturers in Nigeria have agreed to bring down the price of the product to between N7,000 and N8,000 per 50kg depending on the location nationwide. The manufacturers present also expressed their readiness to bring down the prices in the future as soon…

The Nigerian Breweries Plc has issued a new price review notification to all its customers in the West Zone. According to a letter dated Monday, February 12, 2024,  the price review, effective from Monday, February 19, 2024, is deemed necessary to offset the…

MultiChoice Group has disclosed that its subsidiaries have reached a settlement with Nigeria’s Federal Inland Revenue Service (FIRS) and have agreed to pay a total tax of N35.4 billion. “In terms of the agreement, [MultiChoice Nigeria] and [MultiChoice Africa] shall pay a total…

The Securities and Exchange Commission and the Federal High Court have approved the plan of Glaxo Smith Kline Consumer Nigeria Plc to buy back its shares from minority shareholders. This was revealed in a notice filed with the Nigerian Exchange Limited on Thursday. GSK…