Nigerian Breweries Archives — Business Bells

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Tag: Nigerian Breweries

  • Nigerian Breweries Appoints Ighodalo, Anammah as Non-Executive Directors

    Nigerian Breweries Appoints Ighodalo, Anammah as Non-Executive Directors

     

    The Board of Directors of Nigerian Breweries Plc, Nigeria’s foremost brewing company, has announced the appointments of Asue Ighodalo and Juliet Anammah as new Non-Executive Directors.

     

    In a notice to the Nigerian Exchange Limited (NGX), signed by the Company Secretary/ Legal Director, Uaboi Agbebaku, the company stated that the appointments of the duo take effect from January 1, 2022.

     

     

    “Nigerian Breweries Plc (“the Company”) hereby informs the Nigerian Exchange Limited and the investing public of the following appointments to the company’s Board of Directors (“Board”) effective 1st of January 2022”, reads the statement.

     

    Ighodalo who brings over 35 years of experience as a practicing lawyer, comes to the board as a Non-Executive Director, while Anammah, with 30 years of experience covering a wide range of sectors including Consumer Goods, Marketing sits on the board as an Independent Non-Executive Director.

    Nigerian Breweries Appoints Ighodalo, Anammah as Non-Executive Directors
    Ighodalo

    Ighodalo; a recognized leading figure in Corporate Nigeria currently sits on the boards of several reputable organizations, including the Nigerian Economic Summit Group, as Chairman, and Sterling Bank Plc, as Chairman.

     

     At the same time, Anammah, currently the Chief Sustainability Officer of Jumia, serves on the boards of several local and international organizations, including Flour Mills of Nigeria Plc and Imperial Logistics, South Africa.

     

    According to the statement, the board is glad to welcome Mr. Ighodalo and Mrs. Anammah to the team and look forward to the wealth of experience, exposure, and knowledge both will be adding to the Board and the Company.

    Nigerian Breweries Appoints Ighodalo, Anammah as Non-Executive Directors
    Anammah

    Following from the above appointments, the Company’s Board effective the 1st of January 2022 shall be composed as follows:

    Chief K.B. Jamodu, CFR – Chairman ; H. Essaadi (Dutch) – Managing Director/Chief Executive; J. Anammah (Mrs); A.O. Aroyewun (Mrs); S. Hiemstra (Dutch); A. Ighodalo; R. Kleinjan (Dutch); N.O. Nwuneli (Mrs), MFR; I.M. Omoigui Okauru (Mrs), MFR; R. Pirmez (Belgian); S.L.M. Siemer (Dutch).

     

  • Stakeholders Commend Nigerian Breweries on Plastic Recycling Project

    Stakeholders Commend Nigerian Breweries on Plastic Recycling Project

     

    Stakeholders drawn from the Nigerian environmental sector including its allied agencies have commended Nigerian Breweries Plc – Nigeria’s foremost brewing company for its commitment to ensuring and promoting a sustainable environment in Nigeria through its numerous initiatives.

     

    These opinions were expressed by all the stakeholders at the launch of NB Recycles Project held at the company’s head office in Iganmu, Lagos on Thursday, August 12, 2021. 

     

    Under this initiative, various collection points will be set up in all 9 brewery locations of Nigerian Breweries across the country (as well as the respective host communities) to encourage staff and members of the public to embrace the habit of recycling by returning all plastic bottles, aluminium cans, paper, cartons, nylon, and glass in exchange for monetary rewards.

     

    In Lagos, the company set up a collection point at its headquarters for staff, and also donated four recycling bins to the Ijora community in Lagos to promote community-led plastic recycling and combat plastic pollution in the area. The NB Recycles project is being executed in partnership with Wecyclers, a foremost waste recycler in Nigeria who will manage the collection, sorting, and recycling of all the plastic wastes brought in by employees and community members.

     

    In his keynote address, the Chief Executive Officer of Nigerian Breweries Plc, Hans Essaadi said the project restates the company’s commitment towards environmental sustainability, especially in the areas of Plastic recovery and Recycling.

     

    Praising the company for its contribution towards plastic recovery and recycling in Nigeria, the Lagos State Commissioner for Environment and Water Resources who was represented by Assistant Director, Lagos State Ministry of Environment and Water Resources, Babajide Adeoye appealed for more resources to be committed to keeping the environment safe.

     

    “In tackling this menace of plastic waste, there is need for a concerted effort between the government and industrial companies such as Nigerian Breweries. A recently concluded research shows that only 8% of plastic is recycled while the remaining 92% ends up in the environment, which is why initiative such as this is very important”, he said.

     

    In her remarks, Chief Scientist Officer, National Environmental Standards and Regulations Enforcement Agency (NESREA), Ezenwannyi Udechukwu said the initiative deserves commendation as it helps to bring into focus the need to collectively tackle the threats posed by plastic waste while partnering with communities to do so. “We appreciate what you have done for the Ijora community, we also want you to extend this gesture to other places where your consumers are”, she added.

     

    Speaking on behalf of the host community, the representative of His Royal Majesty, The Ojora of Ijora and Iganmu Kingdom, Prince Kunle Aromire expressed profound appreciation to the management of the company for their concern and commitment towards improving the welfare of the environment. 

     

    “On behalf of Kabiyesi, I want to appreciate Nigerian Breweries Plc for their support. We want to thank you for the job you are doing. We thank you for taking care of the welfare of our environment. Your presence in this community is not for business alone but you also care for the environment such that we now have a good environment to live in” Aromire added.

     

  • Ministry of Environment Lauds Nigerian Breweries Over 663.6kWp Solar Power Plant

    Ministry of Environment Lauds Nigerian Breweries Over 663.6kWp Solar Power Plant

     

    The Federal Government through the Ministry of Environment has commended Nigerian Breweries Plc following the successful launch of a world class 663.6 kWp Solar Power Plant for its Ibadan brewery operation which is aimed at ensuring a greener, cleaner and more sustainable environment in Oyo State and Nigeria.

     

    The Minister of Environment, Mr. Muhammad Mahmood who was represented by the Director General, Forestry Research Institute of Nigeria, Prof.Adeshola Adepoju gave the commendation in a goodwill message at the formal commissioning ceremony of the Solar Power Plant held on May 20.

     

    Mahmood described the initative as an important milestone in tackling the challenges of climate change and environmental sustainability in the country.

     

    “This admirable initiative will significantly contribute to effectively tackling climate change, while enhancing energy security. It will also help in creating jobs, reducing industrial carbon footprint, transiting to a low carbon resilient economy as well as making our economies more resilient to future energy crisis. It will also ensure a balance between development, economic, social and environmental sustainability for present and future generations”, he added.

     

    Speaking earlier at the official commissioning, Executive Governor of Oyo State, Engineer Oluseyi Makinde commended the management of Nigerian Breweries Plc for investing in a solar plant that would promote environmental sustainability, stating that his administration would continue to play its part by supporting businesses domiciled in the state to grow.

     

    “This is another first in Oyo State. When history will be written on how NB Plc shifted from electricity to renewable energy, it would be said that Ibadan Plant was the first and as a government, we are very proud to be part of this story”, he added.

     

    In her own remarks, the Minister of State for Environment, Mrs. Sharon Ikeazor equally applauded the company on the groundbreaking project describing it as a significant landmark for renewable energy access/utilization for manufacturing businesses in Nigeria.

     

    Ikeazor noted that it was heartwarming to note that the company is already taking ambitious steps to transition a greater percentage of its electricity usage to renewable energy, stating that not only would such action save the planet but it would also help to create employment opportunities for the youth.

     

    “All hands must be on deck to accelerate action that would reduce carbon emission and protect the environment. Today, NB Plc is taking a very bold and ambitious step in the right direction with this Solar Power commissioning and the overall plan to transition 70% of electricity use in its brewery production to renewable energy. This is a win-win plan as it not only supports climate change mitigation through reduced carbon emission but it would also help the company save money in the long run. This is in addition to the new jobs and opportunities this creates for our teeming youth in Nigeria”, she added.

     

    She stated that the FG would continue to take required steps to ensure that a business-led climate intervention such as that of Nigerian Breweries is showcased as shining example for others to follow.

     

    She urged the company to continue on this path by ensuring that it is replicated in other regions where its plants are located.

     

    Delivering his welcome remarks, the Chairman of Nigerian Breweries Plc, Chief (Dr) Kolawole Jamodu (CFR) extolled the governor for his efforts in positioning the state as an investment destination and creating a conducive environment for constructing the 663.6kwp Solar Power Plant. He expressed his delight at the project completion, describing it as a demonstration of NB’s commitment to environmental sustainability.

     

    Delivering his keynote speech, the Managing Director, Nigerian Breweries Plc, Mr. Jordi Borrut Bel described the project as a first of its kind in the manufacturing sector as Nigerian Breweries is the first brewer in Nigeria to commission a solar power plant providing renewable, clean energy for manufacturing.

     

    Bel disclosed that in addition to this solar plant in Ibadan, the company is already developing other renewable energy plants in its other breweries to ensure that 70% of electricity used in all of its breweries are powered from clean sources.

    “We are not only interested in being Number 1 in Sales and profitability. We also want to be number 1 in environmental sustainability – ensuring that the communities where our breweries are located benefit from our operations in the best possible way” he said.

     

    “Apart from developing renewable energies to ensure cleaner air, we are also investing heavily in ensuring cleaner water for our communities.  As such, we have taken great pains to build a state of the art, waste water treatment plant in our breweries to ensure that we do not cause water pollution. All wastewater produced from the brewery are properly treated and monitored in line with regulatory requirements before they are discharged, making them safe and not harmful to aquatic life and the environment in general”, he added.

     

    He disclosed that the plant which was built at the cost of over N300 million, is  part of NB Plc’s Brew A Better World sustainability agenda, which is aimed at meeting the company’s carbon neutrality targets through increased energy efficiency in its production.

     

    He further revealed that the solar plant was built through a fully financed solar Power Purchase Agreement (PPA) executed with Crossboundary Energy Limited.

     

     It is expected to supply approximately 800 MWh to the brewery annually, providing a significant reduction to the current cost of power, while also reducing the plant’s CO2 emissions by over 10,000 tonnes over the lifespan of the plant.

  • Nigerian Breweries Inaugurates 663.6 Kwp Solar Plant In Ibadan Brewery, Redefines Sustainability In Manufacturing

    Nigerian Breweries Inaugurates 663.6 Kwp Solar Plant In Ibadan Brewery, Redefines Sustainability In Manufacturing

     

    Nigeria’s foremost brewer, Nigerian Breweries Plc has delivered another first in the manufacturing sector of the Nigerian economy by pioneering solar powered manufacturing with the commissioning of a Solar Plant at the Ibadan Brewery.

     

    The 663.6 kilowatts per peak (kWp) solar plant was formally commissioned on Thursday, May 20,2021 by the Executive Governor of Oyo State, Engineer Oluseyi  Makinde.

     

     Speaking during the official commissioning ceremony, Governor Makinde commended the management of Nigerian Breweries Plc for investing in a solar plant which he noted would promote environmental sustainability, stating that his administration would continue to play its part by creating an environment that supports businesses in the state to grow.

     

    Makinde also lauded the commitment of the company towards achieving its very ambitious target of switching to 70% renewable energy usage by 2030 stating that the completion of the Ibadan Solar Power Plant has clearly demonstrated its determination to reach the goal.

     

    “This is another first in Oyo State. When history will be written how NB Plc shifted from electricity to renewable energy, it would be said that Ibadan Plant was the first and as a government ,we are very proud to be part of this story”, he added.

     

    In his welcome remarks, the Chairman of Nigerian Breweries Plc, Chief (Dr) Kolawole Jamodu (CFR) extoled the governor for his efforts in positioning the state as an investment destination and creating a conducive environment for businesses to thrive which had encouraged the company to site the pilot of its solar power project in Ibadan.

    L-R: Managing Director/CEO, Nigerian Breweries Plc, Mr. Jordi Borrut Bel; the Chairman, Nigerian Breweries Plc, Chief Dr. Kolawole Jamodu CFR; the Executive Governor of Oyo state, His Excellency, Engineer Oluseyi Makinde; Corporate Affairs Director, Nigerian Breweries Plc, Sade Morgan and the director general, Forest Institute of Nigeria Ibadan, Prof. Adeshola Adepoju at the official commissioning of the 663.6KWP Solar Power Plant of the Nigerian Breweries Plc, Ibadan Brewery held in Ibadan on Thursday.

    Jamodu expressed his delight at the project completion, describing it as a demonstration of NB’s commitment to environmental sustainability.

     

    Delivering his keynote speech, the Managing Director, Nigerian Breweries Plc, Mr. Jordi Borrut Bel described the project as a first of its kind in the manufacturing sector as Nigerian Breweries is the first brewer in Nigeria to commission a solar power plant providing renewable, clean energy for manufacturing.

     

    Bel disclosed that in addition to this solar plant in Ibadan, the company is already developing other renewable energy plants in its other breweries to ensure that 70% of electricity used in all of its breweries are powered from clean sources.

     

    “We are not only interested in being Number 1 in Sales and profitability. We also want to be number 1 in environmental sustainability – ensuring that the communities where our breweries are located benefit from our operations in the best possible way” he said.

    Governor Makinde being conducted round the facility by NB officials

    “Apart from developing renewable energies to ensure cleaner air, we are also investing heavily in ensuring cleaner water for our communities. As such, we have taken great pains to build a state of the art, waste water treatment plant in our breweries to ensure that we do not cause water pollution. All wastewater produced from the brewery are properly treated and monitored in line with regulatory requirements before they are discharged, making them safe and not harmful to acquatic life and the environment in general”, he added.

     

    He disclosed that the plant which was built at the cost of over N300 million, is part of NB Plc’s Brew A Better World sustainability agenda, which is aimed at meeting the company’s carbon neutrality targets through increased energy efficiency in its production.

     

    He further revealed that the solar plant was built through a fully financed solar Power Purchase Agreement (PPA) executed with Crossboundary Energy Limited. It is expected to supply approximately 800 MWh to the brewery annually, providing a significant reduction to the current cost of power, while also reducing the plant’s CO2 emissions by over 10,000 tonnes over the lifespan of the plant.

     

  • Nigerian Breweries Shareholders Approve N7.52billion Dividend Payout

    Nigerian Breweries Shareholders Approve N7.52billion Dividend Payout

     

    Shareholders of Nigerian Breweries Plc, Nigeria’s foremost brewer have approved the dividend payout of N7.52 billion for the 2020 financial year.

     

    The approval was given at the 75th Annual General Meeting of the company held at MUSON Centre in Lagos on Thursday, April 22, 2021, even as the company assured the shareholders of its commitment to continually improve the return on their investments.

     

    Speaking during the AGM, shareholders noted that the total dividend payout comes as a result of the exceptional performance recorded by the company for the 2020 financial year.

     

    They stated that the 2020 results contained in the audited report and the 100% dividend payout is a strong reflection of the company’s stability as well as its resilience in the face of the global pandemic and operating challenges in the economy.

    L-R: Non-Executive Director, Nigerian Breweries Plc, Mrs. Adeyinka Aroyewun; Company Secretary/ Legal Director, NB Plc, Mr. Uaboi Agbebaku; Chairman, NB Plc, Chief Kola Jamodu and Finance Director, NB Plc, Mr. Rob Kleinjan during the 75th Annual General Meeting of the company held in Lagos today

    Shareholders who were in attendance expressed appreciation to the board and management of the company for exhibiting the great capacity to keep the company going and stable amid the global pandemic and other operating challenges confronting it.

     

    Speaking during the Q and A section of the meeting, shareholders gave kudos to the company for making a total dividend payment at a time when most listed companies find it hard to pay dividends to their shareholders.

     

    One of the shareholders, Mr. Boniface Okezie who spoke at the meeting hailed the board and management of Nigerian Breweries Plc for helping to maintain a strong and healthy balance sheet amidst recession and inflation that had affected businesses and the Nigerian economy in general.

     

    According to Okezie, the fact that the company remains competitive despite the huge impact of the COVID-19 pandemic on businesses demonstrates the uniqueness of the cost-saving measures deployed.

     

    “Despite the impact of the recession and COVID-19 pandemic, the company was still able to maintain stability. This goes to show the quality of leadership at the company. I must confess that the board and management have done well to keep to its promise of paying dividends. We can only hope that they keep up the tempo so that we can receive higher dividends in the next financial year”, he said

     

    In his remarks at the meeting, the Chairman of Nigerian Breweries Plc, Chief Kola Jamodu explained that each shareholder would receive a final dividend of N0.69k at an ordinary share of 50k, having received an interim dividend of 25k.

     

    On his part, the Company Secretary/Legal Director, Nigerian Breweries Plc, Uaboi Agbebaku disclosed that the 2020 financial year recorded a significant boost in sales volume even though the cost of sales rose from N191.76billion to N218.36billion.

     

    Agbebaku who was optimistic about the growth of the company going forward noted that the company would continue to give utmost priority to the welfare of its shareholders in its decision making.

     

     A breakdown of the company’s audited results shows that its Profit after Tax (PAT) recorded for the 2020 financial year stood at N7.52billion while net revenue increased sharply from N323 billion to 337.01billion between 2019 and 2020, representing a 4.3% rise.

     

    Marketing and Distribution Expenses reduced from N77.70 billion in 2019 to N70.7billion in 2020, while Administrative expenses also dipped by 1.79% from N19.30 billion to N18.96 billion, which was largely informed by the elimination of bad costs.

     

  • Nigerian Breweries Recorded Increased Sales Volume in 2020 Despite COVID 19 Pandemic

    Nigerian Breweries Recorded Increased Sales Volume in 2020 Despite COVID 19 Pandemic

     

    The foremost brewing company, Nigerian Breweries Plc recorded significant growth in sales volume in the 2020 financial year despite the impact of the COVID-19 pandemic on businesses.

     

    This was disclosed by Managing Director, Nigerian Breweries Plc, Mr Jordi Borrut Bel at the Pre-Annual General Meeting media briefing of the company held in Lagos on Wednesday, April 7.

     

    Borrut Bel stated that despite the challenges of the COVID-19 pandemic and economic recession, the company recorded an improved performance, primarily driven by robust sales volume growth.

     

    According to him, the significant increase in sales for the 2020 financial year (despite the challenges of COVID-19) could be attributed to the company’s quest for innovation, adoption of e-commerce and other digital best practices to drive sales as well as the hard work and commitment of its staff.

    L-R: Marketing Director, Nigerian Breweries Plc, Emmanuel Oriakhi; Reporting and Accounting Manager, NB Plc, Marcus Alves; Corporate Affairs Director, NB Plc, Sade Morgan and Company Secretary/Legal Director, NB Plc, Uaboi Agbebaku during the Pre-Annual General Meeting media briefing held in Lagos Tuesday

    Borrut Bel listed some of the innovations to include the introduction of Eco-friendly labels for NB non–alcoholic brands; category penetration with premium propositions through the launch of new Desperado Brand (Beer flavoured with Tequila), the launch of two new Maltina variants (Pineapple & Vanilla), change in package designs for some of our existing brands (Legend, Star Radler, Amstel Malta and Life ) to deepen consumer affinity; Introduction of new pack formats and SKU’s extension, product line extensions.

     

    While noting that innovation will remain a major driver for growth in the beer industry, he reaffirmed NB’s commitment to remaining a leader in this field, introducing new products and ideas to drive market demand and meet the yearning of its consumers.

     

    The Managing Director assured stakeholders that the company remains committed to not only keeping its balance sheet strong but ensuring that the health, safety and welfare of its employees, customers and partners are protected.