Kellogg Co is setting up a joint venture with the African arm of
Singapore’s Tolaram Group to bolster its breakfast and snack food
offerings in West Africa.
Kellogg will be paying $450 million for a 50 percent stake in Lagos,
Nigeria-based Multipro, a food sales and distribution company owned by
Tolaram, with an option to buy a stake in Tolaram’s African unit.
Tolaram Africa Foods owns 49 percent of Dufil Prima Foods Plc, the
maker of Indomie noodles, Minimie snacks, Power oil and Power pasta
Click to view full story
Tuesday 29 September 2015
Saturday 26 September 2015
IS THIS REALLY OSHODI?
A few days ago, an old friend of mine came home from the States after twelve years of leaving the country in search of greener pastures. It was an awesome time hanging out together. Spending most of his time on the bourgeoisie end of Lagos, he was surprised at the rate of development on the Island. Much more, the Lekki – Ajah environment and the Lekki link bridge. At a point, we were unhappy at the opportunity we missed to become land owners and multi-millionaires now. Back then, as students around the law school environment, we will often wonder around 1004 estate, Maroko, Sand fill and beyond at our free time and wished we had enough money to buy plots of land. Our dreams.
We soon forgot about the missed opportunities, and decided to focus on the possibilities in this land. At the end of the day, we decided to lounge at one of the bars in Victoria Island. Again, it’s no longer 11:45 or Y Not. You now have Quilox, Bay Lounge, and Sailors. According to him, everything seems to be changing and developing so fast. A die-hard Nigerian like me, I was quick to say YES! And if the current plans are been implemented, places like the Lekki Free Trade Zone(LFTZ) and World Trade Center (WTC) Abuja will further boost investment, trade, and every other think we can’t even imagine now.
The greatest shock came when he was leaving; we decided to check out the mainland hours before his flight. We headed straight for Shop Rite, Ikeja. Where else would I have taken him? Again he was surprised. We couldn’t have imagined 14years ago that something of such would thrive in this country. Even though, we were Land of Plenty (L.O.P) VIP customers back then.It’s time to leave. And by 4pm Nigeria time, we decided to move closer to the Airport. This is where it all happened. I suggested we take Oshodi route. Your bet was as good as mine. His face got white at the mention of Oshodi.
We had almost passed Oshodi when I told him this is Oshodi.
In a few milli-seconds, his heads was almost out of the window. How he was able
to tap the button and get his head out of the window so fast still baffles me
as I write. His jaw was left dropped for more minutes as I allowed him to
express his shock. Our gist soon centered on Oshodi. The crowded and almost no
vehicular movement then has become so free with an ability to view buildings
and signs from distance. What no one would have tried 10years back.
This development has flushed out a large number of street
urchins Oshodi was known to accommodate. It has given Lagos a new face, and
built investors confidence in the State.
Friday 25 September 2015
BUA CEMENT SIGNS $600MILLION CONTRACT WITH SINOMA CBMI
BUA Group has signed a $600 million contract with SINOMA CBMI,
China’s leading cement manufacturing supplier, to commence the
construction of a second production line.
This landmark agreement, which was signed at the SINOMA CBMI
offices in China, recently, will further bolster BUA Group’s share of
the cement market in Nigeria, and further ease accessibility.Click to view full story
Tuesday 22 September 2015
ANOTHER GIANT STRIDE AS MTN NIGERIA GETS N34BILLION DIGITAL PAY - TV LICENSE FROM NBC
MTN Nigeria, has acquired a
N34billion license to provide digital pay television broadcasting
services in Nigeria.
The Director-General of the National Broadcasting Commission
(NBC), Mr. Emeka Mba, confirmed the deal and said that the NBC
approved for MTN Nigeria part of the country’s 700MHz broadcasting spectrum
solely for the purpose.
Mba said: “It is important to
state that the NBC does not sell
spectrum but licenses organizations based on
their applications to broadcast using
available broadcast spectrum, and other
forms, such as IPTV. “ He therefore said the
allegation that NBC sold spectrum is
misleading, and that NBC’s approvals were based on
applications after assessment of the need
and impact on the audiences and the
market.
Credit: en.starafrica.com, thisdaylive.com
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