Unilever Nigeria Records 2% Growth in Turnover

Esan Bolaji
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Unilever Nigeria Records 2% Growth in Turnover

Unilever Nigeria Plc released its audited report for the year ended 31st December 2020. The Company recorded a Turnover of N61.9 billion in the year under review which represents 2% topline growth compared to N60.4bn Turnover recorded in the corresponding year in 2019.

The result showed that Unilever Nigeria recorded a gross profit of N12.8bn for the year ended 31st December 2020, this represented a 169% increase in gross profit relative to a gross loss of N4.7bn reported for the year ended 31st December 2019.

Overall, loss after tax for the year ended 31st December 2020 reduced by 53% to N4.0bn from the loss after tax of N7.4bn reported for the prior year in 2019.

Unilever Nigeria - Earnings slide expected despite Revenue rebound Brandspurng

Speaking on the results, Unilever Nigeria’s Corporate Affairs and Sustainable Business Director, ‘Soromidayo George, stated that even though 2020 was a year of significant disruptions and volatilities impacting the operating environment, Unilever Nigeria continues to build its resilience to navigate the impact of headwinds.

Mrs. George added that the company remains focused on its strategy to deliver sustainable growth both in the medium and long-term riding on the pillars of operational efficiency, cost optimization, purposeful brands and increasing market share across key categories.

“We continue to monitor the business environment and respond appropriately to volatilities in the operating environment as well as disruptions from the Covid-19 pandemic.” She said.

Unilever Brandspur

SEC Approves Appointment of CEOs of Demutualised Entities of The NSE

Esan Bolaji
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SEC Approves Appointment of CEOs of Demutualised Entities of The NSE

The National Council of the Nigerian Stock Exchange is pleased to announce that the appointments of the following Chief Executives to head its non-operating Holding Company and operating subsidiaries have been approved by the Securities Exchange Commission, Nigeria.

Name​ Designation Entity
Oscar N. Onyema, OON Group Chief Executive Officer Nigerian Exchange Group Plc
Temi Popoola, CFA Chief Executive Officer Nigerian Exchange Limited
Tinuade Awe Chief Executive Officer NGX Regulation Limited

​

Under the demutualisation plan, a new non-operating holding company, the Nigerian Exchange Group plc (NGX Group) has been created. The Group will have three operating subsidiaries – Nigerian Exchange Limited (NGX), the operating exchange; NGX Regulation Limited (NGX REGCO), the independent regulatory company; and NGX Real Estate Limited (NGX RELCO), the real estate company – forming the Group. All the entities have been duly registered at the Corporate Affairs Commission.

Commenting on the appointments:

Otunba Abimbola Ogunbanjo, Chairman of Nigerian Exchange Group Plc (NGX Group) Board of Directors stated:

“The confirmation of these appointments are an important step in the process of building a leading and resilient African Exchange Group following the completion of our demutualisation programme.

SEC Approves Appointment of CEOs of Demutualised Entities of The NSE

I am delighted to continue working with Oscar N. Onyema, OON who has played a significant role in the reshaping of the Exchange. As a proven business leader and strategic thinker, I am confident that he will elevate the Nigerian Exchange Group (NGX Group) and its subsidiaries successfully into a new era of development.”

Otunba Ogunbanjo also recorded his thanks to the retiring Ex-Officio Member of the Council:

“I would like to warmly thank Mr. Aigboje Aig-Imokhuede, CON who retires as Ex-Officio of the National Council following the demutualisation of the Exchange. He not only provided wise and valuable counsel to the NSE over the years in its quest towards its demutualisation, he contributed significantly to the transformational achievements recorded by the Exchange during his tenure as President. I speak on behalf of the Council and Management of the NSE in commending him for his exceptional service and wishing him well in his future endeavours. Equally, I thank all past leaders of the Exchange many of whom started this journey and are alive to witness this epochal transition.”

A.B Mahmoud, Chairman of Nigerian Exchange Limited (NGX) said:

“The confirmation of the appointment of Temi Popoola, CFA as the first Chief Executive Officer of Nigerian Exchange Limited comes at a pivotal moment for Nigerian capital markets as the Exchange enters a new phase of its history as a demutualised company, bringing to the Exchange his track record of achievement local and global capital markets.

He will focus on ensuring the Exchange delivers an even higher level of service for all its participants and stakeholders, including investors, listed companies and brokers. I look forward to working with him and his team in the new dispensation  as we move forward on implementing the Group’s growth  strategy.”

Catherine Echeozo, Chairperson, NGX Regulation (NGX REGCO) commented: 

“The clear separation of the regulatory and business functions is an essential part of the Group’s operations following demutualisation and the Board was determined to ensure the selection of an experienced regulator for this task.

I believe all the Exchange’s stakeholders will welcome the announcement of Tinuade Awe as the first Chief Executive Officer of NGX Regulation, given her prodigious experience and track record in capital markets regulation. Our stakeholders can continue to look forward to a robust and transparent regulatory regime under her leadership.” 

About The CEOs

GCEO, The Nigerian Exchange Group Plc

Mr. Oscar N. Onyema, OON is the Group Chief Executive Officer, Nigerian Exchange Group (NGX GROUP). Prior to this, he served as the CEO and member of the National Council of The Exchange from 2011 – 2021. In this role, he was responsible for supervising the general working of The Exchange.

He serves as the Chairman, Central Securities Clearing System Plc (CSCS), the clearing, settlement and depository for the Nigerian capital markets; and Chairman, NG Clearing, which is in the process of developing a Central Counterparty Clearing House (CCP).

In addition, Mr. Onyema is a Board member of the National Pension Commission of Nigeria (PENCOM) and sits on several advisory boards including the London Stock Exchange Group (LSEG) Africa Advisory Group (LAAG).

Prior to relocating to Nigeria, he served as Senior Vice President and Chief Administrative Officer at American Stock Exchange (Amex). He also ran the NYSE Amex equity business following the merger of NYSE Euronext and Amex in 2008.

His remarkable achievements have earned him awards such as the Special Recognition Award for transformational leadership in the Nigerian Capital Markets at Business Day Top 25 CEOs Award 2018. In 2015 Forbes Magazine named him among the Top 10 Most Powerful Men in Africa. In the preceding year, he received the national honour of Officer of the Order of the Niger (“OON”) from the Federal Government of Nigeria.

Mr. Onyema is an alumnus of Harvard Business School, The Wharton School, University of Pennsylvania and INSEAD International Directors Programme. He got his MBA from Baruch College, New York; and BSc degree from Obafemi Awolowo University, Ile-Ife. He is a Fellow of the Institute of Directors (“IoD”) Nigeria, Fellow of the Chartered Institute of Stockbrokers (CIS), Associate of the Chartered Institute for Securities & Investment (CISI) in the UK, and holds FINRA Series 7, 24, 63 qualifications in the United States.

CEO of Nigerian Exchange Limited

Mr. Temi Popoola, CFA is the Chief Executive Officer, Nigerian Exchange (NGX) Ltd. He is a successful C-suite leader whose unique blend of business acumen, financial expertise, global market growth and operational insight has earned him a reputation built on verifiable career achievements.

A Wall street trained investment banker, Mr. Popoola joins NGX Ltd. from Renaissance Capital (Rencap) where he was Managing Director and CEO for West Africa. He supported the continuous growth, profitability and success of the organisation by providing strategic market insight and leadership.

He led the transformation of Rencap in West Africa by diversifying the company’s revenue streams into fixed income, derivatives, structured products, debt financing and wealth management. In addition to influencing change across the organisation, he was responsible for overseeing a global workforce, expanding foreign investor capital opportunities into West Africa and introducing enduring business processes and strategic initiatives.

Since his return to Nigeria in 2009, Mr. Popoola has also worked with the United Bank of Africa (UBA) as Head of Structured Products for Global markets and with CSL Stockbrokers Ltd. as Head of Sales and Trading. In both of these positions, he guided growth and advancement for investors across global markets, including South Africa, the UK, the Middle east and the US.

Mr. Popoola began his career in London as a portfolio manager focused on African energy markets and worked for several years as a senior equity derivatives trader with Bank of America Securities in New York where he drove firm profitability by providing derivative solutions to US corporations and family offices.

He graduated with a First-Class degree in Chemical Engineering from the University of Lagos and holds a Masters degree from the Massachusetts Institute of Technology (MIT). He is a Chartered financial analyst (CFA) and a Chartered stockbroker (CIS). He holds Series 7 and 63 licensures.

CEO of NGX Regulation Limited

Ms. Tinuade Awe is the Chief Executive Officer, NGX Regulation (NGX REGCO) Ltd. Prior to attaining this position, she was an Executive Director, Regulation at The Exchange. She also served as the General Counsel and Head of the Legal and Regulation Division as well as Council Secretary before becoming an Executive Director.  Prior to The Exchange, Ms. Awe worked with the United Nations in The Hague and Geneva as well as the New York offices of the global law firm, Simpson Thacher & Barlett and Banwo & Ighodalo in Lagos, Nigeria.

As Executive Director, Regulation, she had responsibility for the regulation of the two primary stakeholder groups of The Exchange, i.e., the Dealing Members that trade on The Exchange and issuers that have securities listed on The Exchange.  Her team was responsible for rulemaking and interpretation, monitoring, inspections, market surveillance, investigations, regulatory technology, and enforcement.

She is a non-executive director of the Central Securities Clearing System Plc (CSCS).  She is also a member of the Board of the Financial Reporting Council of Nigeria (FRC). She Chairs the FRC’s Board Corporate Governance Committee, which has Board-level responsibility to monitor the implementation of the National Code of Corporate Governance (NCCG).

Among other professional pursuits, Ms. Awe was a member of the Nigerian Senate’s Technical Advisory Committee to review the Bill for an Act to Amend the Companies and Allied Matters Act and the Bill for an Act to review the Investment and Securities Act.

Ms. Awe has an LL.B Degree from the Obafemi Awolowo University, graduating as the Best Female Student in the Faculty of Law. She finished at the Nigerian Law School with First Class Honours, graduating as Best Overall Student. She also holds LL.M Degrees from Harvard Law School, where she was a Landon H. Gammon Fellow, as well as The London School of Economics and Political Science (LSE), where she graduated with Merit. At the LSE, she was a British Council Scholar. She is admitted to both the Nigerian and New York Bars.

Ms. Awe is a member of the Nigerian Bar Association and the International Bar Association. She is an Associate Member of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) and the Institute of Capital Market Registrars (ICMR). She is a Life Member of the Institute of Directors.

She is the recipient of The African Legal Awards 2018, General Counsel of the Year; Law Digest Africa Awards, General Counsel of the Year 2018, and Esq. Nigeria Legal Awards, General Counsel of the Year 2017.   ​

Copa del Rey Final, Bundesliga, La Liga Live on StarTimes This Easter Holiday

Esan Bolaji
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Copa del Rey Final, Bundesliga, La Liga Live on StarTimes This Easter Holiday

An exciting time awaits football fans during the Easter Holiday as top European fixtures will be aired live on StarTimes.

Football returns to Spain this weekend after the international break with nine games in La Liga and the final of the 2020 Copa del Rey.

Value of Top Three Bundesliga Football Clubs Plunged by €105M in a Year Brandspurng

The Copa del Rey final between local Basque rivals, Athletic Bilbao and Real Sociedad will be played at 8:30 pm on Saturday. It will air on StarTimes’ World Football channel. The channel was recently moved to basic and smart bouquets to make premium sports content available to all.

Real Sociedad have a slight doubt over the fitness of key midfielder Mikel Merino. Athletic are without any injuries for the game but defender Inigo Martinez and goalkeeper Unai Simon played 90 minutes for Spain on Wednesday night.

Sunday’s big match in La Liga will see league leaders Atletico Madrid face a difficult visit to fourth-placed Sevilla in one of the toughest tests they will face between now and the end of the season.

Atletico’s lead has been cut to just four points over Barcelona, and if Real Madrid wins at home to Eibar, they could be just three points off the top by the time their city rivals kick-off.

In Bundesliga, the title race could be decided on Saturday as RB Leipzig face a Bayern Munich side at 5:30 pm without star man Robert Lewandowski in a blockbuster clash.

With eight games to go in the league, Bayern has a four-point lead over Leipzig, who this season is looking like a team that can actually, win their first Bundesliga title.

Xiaomi Expands Into Electric Vehicle Sector

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Xiaomi Expands Into Electric Vehicle Sector

Xiaomi Group is commencing its smart electric vehicle business with an official notice to Hong Kong Stock Exchange (HKEX). Lei Jun, Founder, Chairman and CEO of Xiaomi, stated during its March 2021 launch event that the business will be operated under a Xiaomi wholly-owned subsidiary with an initial investment of RMB 10 billion.

Over the course of the next 10 years, Xiaomi is committed to investing an estimated USD 10 billion in total. Lei Jun will concurrently serve as the CEO of the smart electric vehicle business.

 

“The decision was made after numerous rounds of deliberation among all our Partners, and this will be the final major entrepreneurial project of my life. I am willing to put all my personal reputation on the line and fight for the future of our smart electric vehicle!  I am determined to lead my team to fight for the success of the Xiaomi electric vehicle,” said Lei Jun.

He also uncovered that in the past 75 days he had witnessed Xiaomi executive team’s thorough decision-making journey, including rigorous and comprehensive research into the electric vehicle industry – 85 meetings with over 200 industry experts, four internal management debates, and two board meetings. Mi Fans’ continuous support and trust in Xiaomi’s values also prompted the company’s final decision.

Xiaomi is at its prime and has set a foundation for it to break new ground and commence building its smart electric vehicle business. According to its latest financial results, Xiaomi’s global smartphone shipments reached 146 million, upholding the company’s position in the top 3 globally. The sales of premium smartphones have exceeded 10 million units.

TV sales have topped the Mainland China market for 8 consecutive quarters. And with over 324.8 million connected devices on Xiaomi’s AIoT platform and monthly active users for XiaoAi AI Assistant reaching 86.7 million, Xiaomi continues to lead the smart home industry. By the end of 2020, the Group held a cash reserve of RMB 108 billion.

In an internal letter to employees, Lei Jun stated that Xiaomi has distinct and unique advantages in manufacturing cars:

  1. Smart electric vehicles have fundamentally transformed the business model of the traditional automotive industry, and Xiaomi has the deepest understanding of the hardware-based internet service business model;
  2. Xiaomi has the most extensive experience in software and hardware integration, and the most profound manufacturing know-how within the internet industry;
  3. Xiaomi has a smart ecosystem which is the largest in terms of scale, the most diversified in terms of product category, and the most active in terms of user connections;
  4. Xiaomi has numerous core technologies that can be applied to smart electric vehicle business;
  5. Xiaomi has a powerful brand and strong user base, with trust and support from Mi Fans across the globe;
  6. Xiaomi has abundant cash resources that allow Xiaomi to invest with confidence.

 

“Smart electric vehicles represent one of the largest business opportunities in the next decade and represent an indispensable component of smart living. Entering this business is a natural choice for us as we expand our smart AIoT ecosystem and fulfill our mission of letting everyone in the world enjoy a better life through innovative technology. ” Lei Jun said.

About Xiaomi Corporation

Xiaomi Corporation was founded in April 2010 and listed on the Main Board of the Hong Kong Stock Exchange on July 9, 2018 (1810.HK). Xiaomi is an internet company with smartphones and smart hardware connected by an Internet of Things (IoT) platform at its core.

With an equal emphasis on innovation and quality, Xiaomi continuously pursues a high-quality user experience and operational efficiency. The company relentlessly builds amazing products with honest prices to let everyone in the world enjoy a better life through innovative technology.

Xiaomi ranked 3rd globally in terms of smartphone shipments in the fourth quarter of 2020. The company has also established the world’s leading consumer AIoT (AI+IoT) platform, with 324.8 million smart devices connected to its platform, excluding smartphones and laptops. Xiaomi products are present in more than 100 countries and regions around the world. In August 2020, the company made the Fortune Global 500 list for the second time, ranking 422nd, up 46 places compared to 2019. It also ranked 7th among internet companies.

Xiaomi is a constituent of the Hang Seng Index, Hang Seng China Enterprises Index, Hang Seng TECH Index and Hang Seng China 50 Index.

Jerry Fowden Steps Down As British American Tobacco Board Member

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Jerry Fowden Steps Down As British American Tobacco Board Member

Jerry Fowden has resigned as Non-Executive Director of British American Tobacco (BAT) with effect from Thursday, April 1, 2021.

Brand Spur Nigeria understands that Fowden’s resignation implies he will not seek re-election at the Annual General Meeting to be held on 28 April 2021.

In view of BAT Group’s activities to expand its portfolio beyond nicotine, Jerry has decided to step down from the Board of the Company to ensure there would be no potential for a conflict of interest to arise in view of his other external commitments, which he has decided to focus on.

Chairman Richard Burrows said: “On behalf of the Board, I would like to thank Jerry for his valuable contribution to the Company since his appointment as a Non-Executive Director in September 2019. We wish him the very best for the future.”

As the Company’s Notice of Meeting has already been issued, the Company confirms that the resolution to reappoint Jerry Fowden as a Non-Executive Director of the Company (resolution number 9) is now withdrawn.

The withdrawal of resolution number 9 does not otherwise affect the validity of the Notice of Meeting, the proxy form or any proxy votes already submitted on other proposed resolutions. The numbering of all other proposed resolutions at the AGM will remain unchanged. This announcement is made in compliance with the Company’s obligations under the Listing Rules, specifically Rule 9.6.11.

Board Committee Changes

Following receipt of notice of Jerry Fowden’s resignation, a review of the memberships of the Company’s Board Committees has been undertaken. Karen Guerra, a Non-Executive Director of the Company, will join the Audit Committee and step down from the Remuneration Committee with effect from 1 April 2021.

The biographical details within the Notice of Meeting in respect of Karen Guerra’s Committee membership should be read as including those Committee membership changes. These changes do not affect the validity of the Notice of Meeting or the proxy form.

As a consequence of the above changes, the memberships of the Company’s Audit Committee and Remuneration Committee (all comprising Non-Executive Directors) are as follows with effect from 1 April 2021:

Retirement of Jerry Fowden: disclosures required by section 430(2B), Companies Act 2006.

As required by section 430(2B) of the Companies Act 2006, the Company confirms that no remuneration is payable consequent upon or in respect of his resignation.

Jerry Fowden received pro-rated Board, Audit Committee, and Nominations Committee fees to the date of his resignation. He will not receive any payment for loss of office or any other payment in relation to the cessation of his appointment with the Company.

Access Bank Reports 12.7% Rise in Profit After Tax to ₦106Bn, Proposes 55K Dividend

Esan Bolaji
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Access Bank Reports 12.7% Rise in Profit After Tax to ₦106Bn, Proposes 55K Dividend

Access Bank Plc released its 2020 Audited results for the period ended December 31st, 2020.

  • Gross Earnings grew by 14.7% to N765bn from N667bn in the previous quarter.
  • Profit before tax grew by 12.5% to N126bn.
  • Profit after tax grew by 12.7% to N106bn.
  • Net Assets grew by 23.8% from N607bn to N751bn.

Proposed dividend

The Board of Director has recommended a Final Dividend of 55 Kobo (FY2019: 40Kobo) per ordinary share of 50 kobo for the year payable to shareholders on the register of shareholding at the closure date. Withholding Tax will be deducted at the time of payment.

FBN Holdings Generated N89.7bn Profit in 2020…Gross Earnings Declined by 1.9%

Esan Bolaji
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FBN Holdings Generated N89.7bn Profit in 2020…Gross Earnings Declined by 1.9%

FBN Holdings Plc (FBNH) released the 2020 full year financials showing a 1.9% decline in gross earnings. Notably, FBNH reported that its profit before tax grew by 11% to N84bn while Profit after tax grew by 22% to N89.7bn.

FBN Holdings’ net assets also grew by 15.7% from N661bn to N765bn.

The Board of Directors has recommended a dividend of 45 kobo per ordinary share of 50 kobo each, amounting to N16,152,881,755.95 (2019: N13,640,211,261.00). Withholding tax will be deducted at the time of payment.

Hyundai Motor Reports 28% and 38% Increase in Total Sales and Retail Sales in Q1

Esan Bolaji
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Hyundai Motor Reports 28% and 38% Increase in Total Sales and Retail Sales in Q1

April 1, 2021 – Hyundai Motor America reported total March sales of 75,403 units, a 115% increase compared with March 2020 and the all-time best month in Hyundai history. Palisade and Kona had their best month ever, while Santa Fe and Tucson set new March highs. Hyundai fleet sales were down 58%, representing 4% of total volume.

“It was a historic U.S. sales performance in March and Q1 for Hyundai,” said Randy Parker, senior vice president, National Sales, Hyundai Motor America.

2020 Hyundai Elantra Improves Fuel Economy and Safety brandspur nigeria

“Strong consumer confidence, stable inventory, a compelling lineup, attention-grabbing advertising and the efforts of our dealer partners all came together to deliver these results. With the all-new Tucson, our highest-volume model, arriving at dealerships, we will build on this momentum and continue to gain market share.”

March Retail Highlights

March was also the best retail month ever, with 72,740 retail sales, up 153%. Retail sales rose for the entire lineup with SUVs (+173%), cars (+120%) and eco-friendly vehicles (+235%), all up triple digits.

Q1 Highlights

For the quarter, Hyundai had its highest Q1 retail sales ever at 157,470 units, an increase of 38% compared with Q1 2020. Total Q1 sales were up 28% with significant growth across the lineup.

March Total Sales Summary

Mar-21 Mar-20 % Chg 2021 YTD (Q1) 2020 YTD (Q1) % Chg
Hyundai 75,403 35,118 115% 167,130 130,875 28%

 

March Product and Corporate Activities

  • All-New 2022 Tucson: For the soon-to-be arriving all-new Tucson, Hyundai released pricing, launched a reservation program and provided details for the N Line and Plug-in Hybrid models
  • Santa Cruz Teaser: Hyundai released the first teaser sketch of its highly-anticipated Santa Cruz Sport-Adventure Vehicle
  • Complimentary EV Charging: Hyundai is providing 250 kilowatt-hours of complimentary charging on Electrify America’s ultra-fast charging network for owners of 2021 Kona Electric and Ioniq Electric models
  • Elantra Honors: The Hispanic Motor Press Awards named Elantra its 2021 Car of the Year and Autotrader selected Elantra to its 10 Best Interiors Under $50,000 list
  • Usage-Based Insurance: Hyundai introduced its Usage-Based Insurance (UBI) program to help owners potentially save hundreds of dollars on their auto insurance 

Model Total Sales

Vehicle Mar-21 Mar-20 % Chg 2021 YTD (Q1) 2020 YTD (Q1) %Chg
Accent 1,788 1,196 50% 4,272 4,807 -11%
Elantra 12,598 7,430 70% 26,093 25,745 1%
Ioniq 1,930 763 153% 4,125 3,522 17%
Kona 10,416 3,874 169% 22,610 15,174 49%
Nexo 30 7 329% 78 51 53%
Palisade 9,184 3,934 133% 21,207 17,089 24%
Santa Fe 11,538 6,358 82% 28,570 19,902 44%
Sonata 9,335 3,957 136% 20,557 15,602 32%
Tucson 15,744 6,073 159% 33,147 23,735 40%
Veloster 272 575 -53% 687 2,082 -67%
Venue 2,568 951 170% 5,784 3,166 83%

“Taraba State Capable of Supplying Nigeria With Rice” – Governor

Esan Bolaji
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“Taraba State Capable of Supplying Nigeria With Rice” – Governor

Taraba State Governor, Darius Dickson Ishaku has said that the state was potentially capable of supplying Nigeria with the needed quantity of rice if the federal government supports the state with funds and farm implements.

The Governor disclosed this while playing host to the market enterprise adviser of International Fund for Agricultural Development (IFAD) – Value Chain Development Program (VCDP), Hajiya Fatima Buhari at the Government House Jalingo.

“Taraba State Capable of Supplying Nigeria With Rice” – Governor Brandspurng

He explained that the statistics of rice production in Nigeria in the last six years have shown that Taraba state can supply Nigeria with the needed rice and end the idea of rice importation into the country if supported and empowered by the federal government.

According to the governor, the IFAD-VCDP transformation system in the production of rice in the country which Taraba is currently amongst states, has made him to go on more research work where he realized the potential and capacity the state has in the production of rice.

Earlier, Haj. Buhari disclosed that Taraba has been the pride of Nigeria in rice production since the coming of the IFAD-VCDP program.

She noted that Taraba has been top in payment of counterpart fund which gives farmers in the state advantage over others.

“We are proud of Taraba state, you have distinguished yourself among rice-producing states to be the pride of Nigeria.

“For past six years now, Taraba has been to in terms of rice production since the intervention of IFAD-VCDP program and we want to appreciate the governor for being prompt in the payment of counterpart fund which is giving farmers in the state advantage over others”, she expressed.

She commended Governor Ishaku’s administration for the efforts being made in ensuring the success of the IFAD-VCDP program in the state and boosting the rice production level of Nigeria.

Mr. Irimiya Musa, the state coordinator IFAD-VCDP, expressed that the administration of Governor Ishaku has made the IFAD-VCDP program proud in Taraba.

Eat’N’Go Expands Its Footprint To Northern Nigeria

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Eat’N’Go Expands Its Footprint To Northern Nigeria

Eat’N’Go Limited, leading franchisee for world-class food brands, Domino’s Pizza, Cold Stone Creamery, and Pinkberry Gourmet Frozen Yoghurt, has launched two new outlets in the Northern part of Nigeria – Kano state.

Eat’N’Go located at Central Hotel, Bompai Rd, Kano and the other at Zoo Rd, Kano, were officially unveiled by His Excellency, Dr. Abdullahi Umar Ganduje (OFR) Executive Governor, Kano State, ably represented by Amb. Dr Ibrahim MB Gaya, SA to the Governor on Rural Development, at a launch ceremony which took place on Wednesday 31st March 2021.

This expansion follows the brand’s promise to extend its product and service delivery to several parts of Nigeria, supporting its plan to contribute immensely to the Nigerian economy. The organisation is also reinforcing its commitment to growing its investments in the country as well as providing jobs and business opportunities for Nigerians across the country.

Speaking at the ceremony, Pat McMichael, Group CEO, Eat’N’Go said “Since we commenced operations in Nigeria in 2012, our focus has always been to not just offer delicious offerings to customers, but to largely contribute to the Nigerian economy. We believe that expanding our businesses to several parts of the country is a strategic way to provide jobs and business opportunities for Nigerians in Nigeria.

Having spread far and wide across the southern and western parts of the country, we are very proud to extend our footprint into Kano.

Presently, Eat’N’Go is home to over 3000 employees and hundreds of local suppliers. We believe that this expansion will avail us more opportunity to employ more people, especially in the local community here in Kano.” We are thankful to all our stakeholders and customers for the continued supports” he added. Our focus is our people, and with our excellent service and continuous innovation, we will continue to bring the best of experience to the great people of Kano.

Also speaking at the launch ceremony, Amb. Dr. Ibrahim MB Gaya, SA to the Governor on Rural Development, said “the opening of Eat’N’Go in Kano marks an exciting moment for not just the fast-growing food industry in Kano, but for the economy of our dear state. Over the past few years, we have increased our commitment towards making Kano state a choice destination for businesses to function and Eat’N’Go’s presence in our state confirms that we are on the right track.

We are excited about the opportunities this will create for the people Kano and we will continue to provide all the support needed to ensure even more businesses come in.”

At the launch event, all guests present enjoyed the pleasure of an immersive store tour, which showcased all offerings including the authentic Eat’N’Go experience. Guests were treated with different pizzas from the Halal-certified Domino’s Pizza, consisting of local and international flavours and of course, exposed to the ultimate ice cream experience from different flavours from the #1 ice cream brand in Nigeria: Cold Stone Creamery. The new outlets are intended to be the go-to hub for quality food, great service and experience in the Kano metropolis. The tour also highlighted for those in attendance how Eat’N’Go is well-prepared and adhering to all COVID -19 regulations, ensuring that visiting customers are safeguarded during their time in the store.

Eat’N’Go has over the years maintained its position as the leading food franchisee in Nigeria as it expands its presence to other parts of Nigeria & Africa – with a recent expansion into Kenya. The organization also places a strong focus on the quality of its products and services of all its three brands, with a halal certification on Domino’s Pizza. Currently operating 130 outlets across Nigeria, the expansion to this new region is in line with the company’s plan to increase its physical outlets to up to 170 by the end of 2021.

About Eat’N’Go

Eat’N’Go is Nigeria’s master franchisee for the Domino’s Pizza, Cold Stone Creamery and Pinkberry Gourmet Frozen Yoghurt brands. Renowned for being a master deliverer of high-quality food & services, Eat’N’Go has established 130 stores in Lagos, Abuja, Oyo, Ogun, Ondo, Kwara, kano, Enugu, Uyo and Rivers states in Nigeria, and also has presence in Kenya with 17 outlets. The company continues to expand its presence in key markets by fusing company goals with new strategic development goals.

Eat’N’Go is dedicated to bringing the best global food brands and concepts to Nigeria and Africa at large.

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