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GSK Shareholders Approve Divestment From Drink Business

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9 years ago

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The shareholders of
GlaxoSmithKline Consumer Nigeria Plc, have approved the company’s plan to sell its drinks business to Suntory Beverage and Foods Ltd for 79.2 million dollars (N15.7 billion) to concentrate on its core business of healthcare.
The Tide reports that the shareholders gave the approval recently at the company’s 2015 Annual General Meeting (AGM) and EGM in Lagos.
The Tide reports that the transaction included the sale of the company’s Agbara manufacturing facility for drinks business and a 6.45 hectares of land.
The Tide also reports that the company would retain 3.45 hectares of the land to enable it invest and grow the retained GSK consumer business.
The company’s Chairman, Mr Edmund Onuzo, while addressing the shareholders,, said that a special dividend of N716 million, translating to 60k per share would be paid to shareholders upon completion of the transaction.
Onuzo said that the company would retain the production equipment used in the GSK consumer business and would lease from Suntory those areas of the Agbara facility which were used in the production of products for the GSK business.
According to him, the company will provide IT and ‘certain other transitional services’ to Suntory for a short period for smooth transition.
He explained that the transaction would enable the company to focus more on growing the GSK consumer business.
“Our parent company decided not to get involved in drink business but to focus on healthcare and we see it that it is easy for us to align on their strategy.
“Suntory is a Japanese company and the third largest drink company in the world.
“We believe they have come to stay in Nigeria and the desire to quickly bring in their own brand underscores that fact,” he stated.
Onuzo said that the proceeds would be invested in the construction of a multi purpose facility to support the business and help maintain low cost but quality supply base.
He added that part of the fund would be used to reduce the firm’s foreign currency denominated indebted and to provide optimal returns to shareholders.
While reacting to shareholders demand to increase their 60k special dividend, Onuzo said that the company needed to invest in the facility.
“We needed to invest on facility installation to quickly recover lost ground and grow faster than expected so that our turnover will grow while profit will be much better.
“There is a huge debt to be paid, aside costs arising from business. Bearing in mind also on the uncertainty of the future, there is no way we will increase the dividend.
“We have arrived at what we consider to be fair and equity to enable us preserve the business for tomorrow. The board considers the future before going into this arrangement,” he explained.

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Kenyan Runners Dominate Berlin Marathons

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1 day ago

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September 22, 2025

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Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

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NIS Ends Decentralised Passport Production After 62 Years

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1 day ago

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September 22, 2025

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The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
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FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

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1 day ago

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September 22, 2025

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The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
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