LAGOS FEBRUARY 19TH (NEWSRANGERS)-Amidst the economic hardship in the country, Nigerians who find succour in alcoholic beverages may have to turn to other options as Nigerian Breweries has announced a price increase in some of its products. Nigerian Breweries said the price hike became necessary due to the continued rise in input costs and the…
LAGOS FEBRUARY 18TH (NEWSRNAGERS)-Nigerian Breweries Plc’s workforce has been reduced by 380 workers as the brewer struggled with the loss induced by surging cost and the naira floating policy of the Central Bank of Nigeria last year. NB joined brewery firms like International Breweries Plc which declared N59.5bn net loss in 2023 and Champions Breweries…
LAGOS FEBRUARY 16TH (NEWSRANGERS)-The Naira has suffered another setback as trans-border businessmen and women who hitherto used to transact their businesses in Naira and other currencies have stopped accepting the currency as payment for business transactions. The traders claim that using the Naira to transact their businesses has become counterproductive following its continued depreciation, adding…
LAGOS FEBRUARY 16TH (NEWSRANGERS)-As Nigeria’s vice president cut the ribbon on Procter & Gamble Co.’s diaper production line in 2017, the $300 million facility near Lagos was hailed as a symbol of the country’s economic ambitions. In December, P&G said it was leaving the West African state. The US consumer goods giant is not alone….
LAGOS FEBRUARY 14TH (NEWSRANGERS)-Nigerian Breweries Plc has issued a new price review notification to all its customers in the West Zone. According to a letter dated Monday, February 12, 2024, the price review, effective Monday, February 19, 2024, is deemed necessary to offset the impact of increased production expenses. “This is to inform you that…
LAGOS FEBRUARY 13TH (NEWSRANGERS)-The International Monetary Fund said Nigeria is facing a worsening economic crisis. The global lender stated this in a new report titled, “IMF Executive Board Concludes Post Financing Assessment with Nigeria.” According to the IMF, stalled per-capita growth, poverty, and high food insecurity have exacerbated the ongoing cost-of-living crisis in Nigeria. The…
LAGOS FEBRUARY 12TH (NEWSRANGERS)-The United States Coast Guard (USCG) has offered Nigeria a three-year plan to work with the Nigerian Maritime Administration and Safety Agency (NIMASA) for the removal of the Condition of Entry (CoE) placed on American-bound vessels from Nigeria. Cdr. Juliet Hudson at the USCG headquarters in Washington DC disclosed this during a…
Lagos February 12th (newsrangers)-Due to the instability and volatility of foreign exchange in the country, several foreign-used vehicles imported into the country have been abandoned at vehicle terminals in Tin-Can Island Ports Complex, Apapa, LEADERSHIP can report. Aside from abandonment, vehicle Importation has gone down drastically due to the same forex instability and volatility. It…
