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NB, Consolidated Breweries Merger, Good For Real Sector – Stakeholders

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11 years ago

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Some investors’ and capi
tal market operators at the nation’s bourse say the proposed merger between Nigerian Breweries (NB) Plc and Consolidated Breweries, will attract more foreign investors to the real sector of the economy.
The stakeholders said in separate interviews in Lagos that the merger between both companies would provide another impetus for foreign investors to review their interests in Nigeria.
According to them, the affirmation of the proposed merger at the December 4, separate Court Ordered Meetings (COM) will further leverage the Nigerian real sector operations.
The Chairman, Nigeria Professional Shareholders Association, Mr Godwin Anono said that the shareholders would support the merger because of the enhanced profitablity that would result from the exercise.
He said that the shareholders would support all the resolutions of the COM to ensure speedy conclusion of the merger plan.
Anono said that the merger would stimulate economic growth and development of the capital market.
He, however, called on other shareholders to support the merger which he described as a welcome development in the Nigerian capital market.
The President, Nigeria Shareholders Solidarity Association (NSSA), Mr Timothy Adesiyan expressed shareholders readiness for the consolidation.
Adesiyan said that the merger would turnaround the fortunes of both companies in terms of robust growth and return on investment.
The NSSA boss called on the Securities and Exchange Commission (SEC) to ensure protection of the minority shareholders in the merger process.
The President, Association of Stockbroking Houses of Nigeria (ASHON), Mr Emeka Madubuike said that the merger would increase the depth of the capital market.
Madubuike said that the merger would enhance the overall prospect of the company’s business in terms of profitability and wider market reach.
“We are expecting a much stronger NB with robust dividend at the completion of the seamless merger,” Madubuike said.
He said that the company’s brand will be stronger with international quality at the completion of the exercise.
The Managing Director, Standard Union Securities Ltd., Mr Sehinde Adenagbe said that the synergy would be good for the shareholders.
Adenagbe said that the business combination was a good development for the capital market and would increase the market capitalisation of the nation’s bourse.
He said that investors should use the opportunity and increase their stake in the company to benefit from the enlarged market share.
Adenagbe said that Consolidated breweries would complement the existing breweries of NB to ensure adequate supply of products to the market.
Heineken, the majority shareholder in Nigerian Breweries in 2005 acquired a controlling stake in Consolidated Breweries.
Heineken had earlier said that the merge was part of their long term strategy of positioning their businesses in the fast growing Nigeria beer and malt drinks.
The proposed merger was recently approved by the Securities and Exchange Commission (SEC).
Under the arrangement of the merger, four shares of NB would be exchanged for five shares of Consolidated Breweries or a cash consideration of N120 per share of Consolidated Breweries held.

Executive Chairman, Rivers State Internal Revenue Service, Onene Osila Obele-Oshoko (middle), delivering an address, during the media dinner organised by RIRS in Port Harcourt recently. With her are board member, Sir Nelson Wali (left) and another board member, Mr. Christian Ogbowu. Photo: Egberi A. Sampson

Executive Chairman, Rivers State Internal Revenue Service, Onene Osila Obele-Oshoko (middle), delivering an address, during the media dinner organised by RIRS in Port Harcourt recently. With her are board member, Sir Nelson Wali (left) and another board member, Mr. Christian Ogbowu. Photo: Egberi A. Sampson

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NPA Assures On Staff Welfare 

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2 weeks ago

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June 27, 2025

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The Managing Director, Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has said the management will continue to accompany its port infrastructure  and equipment  modernization drive  with the development of the welfare of its personnel.
Dantsoho made the disclosure recently while responding to the commendation by the Maritime Workers Union (MWUN) and the senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASGOC) on the  clearing  of the age-long problem of employee stagnation, when the union paid him a courtesy visit at the Authority’s headquarters in Lagos.
A Statement by NPA’s General Manager Corporate & Strategic Communications, Mr. Ikechukwu Onyemekara, quoted Dantsoho as saying,  “our Port infrastructure and equipment modernization drive will go hand-in-hand with continuous staff welfare improvement”.
The NPA MD disclosed that human capital development constitutes the key strategy for creating and sustaining superior performance under his watch, adding that “talent development constitutes a critical success factor for the actualization of the big hairy audacious goals we have set for ourselves especially in the area of Port competitiveness.
“The only way we can meet and indeed exceed stakeholders’ expectations is to deepen the competencies of our human resources assets and boosting their morale.”
Speaking further, Dantsoho commended the Honourable Minister of Marine & Blue Economy, Adegboyega Oyetola, for approving the strategic proposal of the Dantsoho-led Management team that solved the over a decade-long problem of lack of promotion that had fuelled industrial disharmony.
“I must specially appreciate our amiable Minister for graciously approving the multi-pronged stratagem we deployed that cleared all outstanding cases of employee stagnation by conducting examinations in one fell swoop and instituted timelines to forestall a recurrence of such anomaly”, he sad.
Speaking on behalf of the joint maritime labour unions, the President  of Senior Staff Association of Statutory Corporations & Government-Owned Companies (SSASCGOC), Comrade Bodunde stated, “In addition to clearance of the backlog of stagnated promotions, we also wish to express our appreciation for the increase in productivity bonuses, provision of end-of-year welfare packages for staff, and the revision of the Financial Guide to the Condition of Service, which now addresses our members’ concerns about inflationary pressures.”
Nkpemenyie Mcdominic, Lagos
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ANLCA Chieftain Emerges FELCBA’s VP

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2 weeks ago

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June 27, 2025

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National Secretary of the Association of Nigerian Licensed Customs Agents (ANLCA), Elder Olumide Fakanlu, has been elected Vice President of the Federation of ECOWAS Licensed Customs Brokers Association (FELCBA).
The election took place during the FELCBA Congress, held from Tuesday, June 17th to Thursday, June 19th, 2025, in Freetown, Sierra Leone.
Fakanlu’s emergence as Vice President marks a significant achievement for Nigeria within the regional customs brokerage community.
Apart from Fakanlu, Secretary of the Seme Chapter of ANLCA, Austin Nwosu, was also elected, securing the role of Secretary of Relations with Institutions.
The Nigerian delegation played an active role in the congress, with Michael Ebeatu nominated as a member of the electoral officer team, ensuring a fair and transparent election process.
The three-day congress concluded with delegates undertaking a visit to the Sierra Leone Port, offering insights into the host nation’s maritime operations, followed by a recreational trip to the Tokeh Beach.
The newly elected executives are expected to lead FELCBA in its efforts to harmonize customs brokerage practices, promote trade facilitation, and advocate for the interests of licensed customs brokers across the ECOWAS sub-region.
Nkpemenyie Mcdominic, Lagos
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NSC, Police Boost Partnership On Port Enforcement 

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2 weeks ago

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June 27, 2025

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In a bid to enhance more enforcement in the nation’s Port, the Nigerian Shippers’ Council (NSC) has reaffirmed its commitment to stronger inter-agency collaboration with the Nigeria Police Force (NPF).
The Council said the collaboration is aimed at enhancing stronger enforcement, compliance and improve operational efficiency across Nigeria’s ports.
Executive Secretary/Chief Executive Officer of  NSC, Dr. Pius Akutah, made this known during a visit to the  Inspector-General of Police, Dr. Kayode Adeolu Egbetokun, at the Force Headquarters, Abuja.
The visit, which he said, focused on strengthening institutional synergy, comes in the wake of growing responsibilities for the NSC under the newly created Ministry of Marine and Blue Economy.
Akutah emphasized the critical role of security agencies in supporting port operations and ensuring regulatory compliance.
He called for the posting of police officers to assist the Council’s monitoring and enforcement teams at key port locations including Lagos, Warri, Onne, Port Harcourt, and Calabar.
“The posting will complement the activities of our revived task teams and enhance our ability to enforce standards across the maritime logistics chain”, he said.
Earlier, the Inspector-General of Police, Dr. Egbetokun, assured the Council of the Force’s readiness to continue supporting the growth of the maritime sector.
The IGP acknowledged that compliance enforcement is essential to the successful implementation of Nigeria’s Blue Economy objectives.
“The NSC and NPF are expected to deepen collaboration in the months ahead, with a shared focus on building a secure, efficient, and competitive port environment”, to the IGP emphasized.
Chinedu Wosu
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