Market Watch March 2016 draft

FMCG Market Watch:
March 2016 Edition.

Market Watch - March 2016 Edition

© TNS

Core views!!!

1

Growth in Nigeria, already suffering from the oil price collapse, and also further impacted by the unorthodox monetary policy being enacted,
which - contrary to its professed aims - is stifling existing domestic non-oil production. Looser monetary and fiscal policy will not be
sufficient to compensate.

2

President Muhammadu Buhari remains determined to plough his own furrow, pursuing his own politically determined economic path in the
face of criticism from businesses, investors and analysts around the world. He is single-mindedly attempting to reshape the Nigerian
economy, clean up its ministries and business practices, and eliminate graft. Given the massive reliance on the oil sector, and the devastating
effect fiscal leakage has had on Nigeria’s development, these are worthwhile pursuits. However, the president – and Nigeria - must be
prepared for hardship in their quest in the near term and we contend that too dogmatic a pursuit of these ideals will endanger the country
ability to attract foreign investment.

3

The ramp-up in spending that the Nigerian government has proposed will outpace any growth in revenues, and the fiscal deficit will widen as
a result. This will be financed by borrowing on international markets and from multilateral bodies - which will likely come with conditions
attached. Nigeria current account will remain in deficit and over the course of our forecast period, thanks to the oil price collapse and a
reliance on imported goods. This will be financed through borrowing from multilateral institutions and the international debt market.

Market Watch - March 2016 Edition

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Inflation soars on rising food prices and higher import costs…

Market Watch - March 2016 Edition

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GDP growth ebbs further with headline inflation rising to 11.4%
in March…

Headline Inflation rate (%) Quarterly GDP Growth rate (%)

12 11.4 11.4 7 6.54
6.21
6.23 5.94
6
10 9 9.2 9.2 9.3 9.4 9.3 9.4 9.6 9.6
8.6

8 5

6 3.96
4

4 3
2.35
2 2

2

1

0 0 Q3'14 Q4 '14 Q1 '15 Q2 '15 Q3 '15
Q1 '14 Q2 '14
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
'15 '15 '15 '15 '15 '15 '15 '15 '15 '16 '16 '16

Inflation rate was at a 12-month high of 11.4% “The decline in GDP growth rate at a time of
as at March, 2016 due to; creeping inflation means that Nigeria is in a
 Increase in the prices of food stuff; especially
temporary stagflation
those coming from the North. and a recession looming in the horizon…”
 Declining oil prices.
 Tight monetary policy & ban on some imported

goods by the Central Bank among others.

Market Watch - March 2016 Edition 4

Source: LBS March 2016 ; National Bureau of Statistics

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Headline Inflation Spikes and will

Monthly (YoY) Inflation Rate vs. MPR

13.00
11.00

9.00
7.00
5.00

Oct'15 Nov'15 Dec'15 Jan'16 Feb'16

Headline Inflation All items less farm produce Food Inflation MPR

Market Watch - March 2016 Edition Source: NBS

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Macro-Economic Scorecard

S/N Indicator Position as at March 29, 2015 Position as at March, 2016 Percentage Change

1 Spot price (avg $’pb) 57.09 39.75 (-30.37)
2 Oil production (mbpd) 1.82 1.75 (-6.42 )

3 Inflation (%) 8.5 11.4 2.90

4 External Reserves (US$’Bn) 29.79 27.87 (-6.45)

5 Market Capitalization (N’ Bn) 10,720 8, 690 (-18.94)

6 Power grid (MW) 4,044.6 2,030 (-49.8)

7 Misery Index* (%) 16 21.8 5.8
199.16 198.55 (0.31)
Inter (-31.68)
220 322
bank
8 Exchange Rate

(N/$) Parallel

Source: NBS, OPEC, CBN, NSE, FDC Research

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*The Misery index is an economic indicator, created by Economist Arthur Okun, and found by adding the unemployment rate to the inflation rate. It is
assumed that both a higher rate of unemployment and a worsening of inflation create economic and social costs for a country.

1

Political News

Market Watch - March 2016 Edition

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Political News: General

Buhari rules out forex for Tough choices faces CBN Policy CBN raises interest rate to 12%
Nigerian students abroad Committee

President Muhammadu Buhari has As the Monetary Policy Committee Four months after the Monetary
ruled out foreign exchange for of the Central Bank of Nigeria Policy Committee reduced interest
Nigerian students abroad. meet for 2 days to review rates, it has decided to reverse
Speaking in an interview with Al economic & monetary such decision and increased the
Jazeera during his recent visit to development since its last meeting interest rates bank lend money to
Qatar, the president said Nigeria in January 12 percent.
Click to read more….
Click to read more… Click here to read more….
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Market Watch - March 2016 Edition

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2

Economic News

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Economic News: Manufacturing & Exports

Toyota unveils first Made-in- Dangote makes bid to acquire Customs re-imposes restriction on
Nigeria vehicle Controlling stake in Peugeot Nigeria Rice importation

The Managing Director of Toyota Aliko Dangote has teamed up with The Nigerian Customs Service has
Nigeria reported that the new two Nigerian states to bid for a re-introduced the restriction order
Hiace was assembled in the majority stake in Peugeot it placed on the importation of rice
company`s plant built with 30,000 Automobile Nigeria (PAN). He through land borders across the
unit production capacity every teamed up with Kaduna and Kebbi country
year, which was used as a test along with development lender
Bank of Industry. To read more, click here…
Click to read more… Click to read more info…
10
Market Watch - March 2016 Edition

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Economic News: Manufacturing & Exports

Glut hits Nigerian Steel market China partners with Kwara State Nigeria`s non oil exports earnings
on Textile industrial park Reduced by 59%

The Coordinator of the Steel The Chinese government has Both the Federal and State
Manufacturers of Nigeria said that expressed readiness to partner Government need to intervene to
the Nigerian steel industry is in with the Kwara State Government save the decreasing receipts rate
comatose pointing out that there In its efforts to develop a textile from the non oil exports sector to
is low demand for locally-made industrial park In the state. This be able to assist the economy
steel products was made known by the Chinese sectors
To read more…
To read more… Click here to read more…
11
Market Watch - March 2016 Edition

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Economic News: Manufacturing & Exports

International Glass Industries Limited Back In Abia State

Abia State Government has assured the management of the 12
International Glass Industry Limited Aba that the Government will
do everything necessary to assist it.

Click here to read more…

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Economic News - Energy China seeks more crude oil
Exports from Nigeria
Nigeria’s power generation crumbles to
zero Megawatts for several hours

Nigeria’s power generation collapsed to China is seeking more oil exports from
zero megawatts on 31st of march at Nigeria despite the recent oil price
exactly 12.58pm and persisted for about changes. The trade volume between
three hours. Data from the country’s countries stands at $14.94 billion
system operator showed that no power (2014) making Nigeria china`s third
largest trade partner in Africa.
Click to read more… Click here to read more…

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Economic News: Others

Dollar scarcity forces foreign JAIZ Bank set to roll out nationwide, Nigeria records 21.6% foreign
Airlines to raise fares by 100% few months after CBN’s nod Portfolio deficit amidst forex strain

The lingering foreign exchange Jaiz Bank, the pioneer non- Foreign portfolio investments
scarcity, which has made it interest (Islamic) bank in Nigeria, (FPI) in Nigeria have continued to
difficult for foreign airlines to has concluded plans to go dwindle as latest investment
repatriate their ticket sales national, few months after it report indicates that Nigeria
proceeds for several months, has received an approval-in-principle recorded about 21.6 per cent
forced the carriers to increase from the Central Bank of Nigeria foreign portfolio investment
their fares by about 100 percent (CBN) to extend its business deficit in January 2016.
nationwide
Click to read more… Click to read more… To read more…

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Economic News: Others

Dangote Group Controls 43% of Nigeria’s cocoa loses market Sterling Bank, Innoson Motors
Nigerian Stock Market traction as old trees, bad Sign Auto Finance Deal
weather cut supply

Africa’s richest man and President, Nigeria’s flagship export product, Sterling Bank is partnering
Dangote Group, Alhaji Aliko cocoa, is fast losing its traction in Innoson Motors to finance the
Dangote, controls 43 per cent of the global market, owing to purchase of locally made vehicles
the Nigerian stock market, increased number of un-replaced produced by the company as part
THISDAY checks revealed on old and worn-out trees in the of steps to champion the use of
Monday. Dangote, Mike Adenuga Click to read more….
Click to read more…
Click to read more… 15

Market Watch - March 2016 Edition

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Economic News: Others

Lafarge set to expand production VITAFOAM & VONO obtain Court's Glo sponsors Olubadan coronation
with three plants sanction over merger, trading on activities

VONO to be Suspended

With a plan to open three new Vitafoam Nigeria Plc and Vono GLOBACOM has been announced as
plants, cement manufacturer and Products Plc have obtained the sponsor of activities lined up
building solutions provider – Court’s Sanction of their Scheme for the coronation of the new
Lafarge Africa Plc. – yesterday of Merger effective Friday, 11 Olubadan of Ibadanland, Oba Saliu
unfolded its business outlook for March 2016. The two companies Adetunji, who would be publicly
the year.Its Chief Executive had earlier secured their crowned on Friday.
Officer (CEO) Peter Hoddinott Click to read more…
Click to read more…
Click to read more… 16

Market Watch - March 2016 Edition

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3

Consumer Confidence

Market Watch - March 2016 Edition

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Core views!!!

1

Consumer prices increased 2.3% over the previous month, which was well above January’s 0.9% increase. According to the
National Bureau of Statistics, the month-on-month increase in prices accelerated to an over-four-year high as nearly all the sub-
components of the index gained ground over the previous month, with restaurants and hotels being the only exception. Overall,
prices are soaring due to severe scarcity of hard currency, higher food prices and the fact that capital controls imposed by the
Central Bank are propping up import costs.

2

Inflation in February shot up from January’s 9.6% to 11.4%. The print represented the highest rate since December 2012 and
overshot the 9.9% that market analysts had expected. As a result, annual average inflation ticked up from January’s 9.1% to 9.4%
in February and further to 11.4% in March, thereby reaching a 30 month high.

3

Core consumer prices, which exclude farm produce and energy prices, rose 1.6% in February over the previous month, doubling
January’s 0.8% rise.

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Nigeria Consumer Confidence

No price increase on Dstv NNPC kicks start retail Startimes to sponsor Three
Bouquets says Multichoice Outlets expansion projects subscribers to US

Multichoice announced that it Under the expansion plan, NNPC is Startimes Nigeria has kicked off
would effect a price increase on seeking to expand the market its all access tour in the year. It is
any of its Dstv bouquets in April share of its retail business to an expected to produce 3 customers
as it usually does and does not appreciable level from the current for an all-expense-paid one-week
anticipate any price increase in 12 percent by building an NNPC trip to LA, California to watch
2016 barring any further external Retail fuel station in every American basketball stars in
economic shock. Senatorial district in the country action.
Click to read more… in the months ahead.
Click here to read more… Click to read more…

Market Watch - March 2016 Edition 19

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Uber - Abuja

Abuja, Nigeria becomes Uber's 400th city to launch

Abuja has become the 400th city in Uber's growing global network. With the launch of Uber, an innovative 20
technology platform, Abuja joins the list of smart transportation hubs in Africa. Following the success of Uber
in many other cities, Uber is excited to launch its ride-sharing platform to the people of Abuja. Uber’s
innovative platform connects drivers with riders in real time, at the touch of a button. Whether you’re going
to work or going out with friends, Uber provides an affordable, safe and reliable way to get across the city.
Abuja is a place where entrepreneurs are born, it is a growing city in the heart of Nigeria.

Click here to read more…

Market Watch - March 2016 Edition

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Diary update

FG commissions Cow Milk processing plant in Yola

The Federal government, in partnership with a Fulani community and Modibbo Adama University of 21
Technology (MAUTECH) have opened a milk collection and processing facility in Yola State.
The idea was aimed at reducing the dependence on foreign milk products, which experts said cost the
country N75bn per year. Speaking at the commissioning of the centre at MAUTECH Yola, the Director-
General of the Raw Material Research Development Council (RMRDC), Dr. Hussani Ibrahim, said that the
centre was expected to increase milk production from indigenous cattle resources. He added that the country
can only produce one percent of the local demand, while it spends N75bn importing milk and milk products
yearly.

Click here to read more…

Market Watch - March 2016 Edition

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4

Retail

Market Watch - March 2016 Edition

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Retail News

Nigerian e-commerce site, Dealdey Spar launches Abuja store Shopsmart E-commerce
get acquired by Ringier Along with instalmental payment debuts, offers discount

scheme

The African subsidiary of Swiss Spar, a Dutch multinational retail Shopsmart , a new entrant into
media and e-commerce company chain launched its new store in the offline and online retail space
Ringier acquired Dealdey for an Ceddi plaza in Abuja on Friday in Nigeria has announced the
undisclosed amount. Ringier with the introduction of a new launch of its discount wholesaling
Africa Deal Group, a joint vent payment scheme for customers pricing platform for bulk buyers
venture between Swiss Ringier given the current economic and end users of fast moving
situation in the country. consumer brands
Click here to read more… Click to read more… Read more…

Market Watch - March 2016 Edition 23

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Retail News: e-commerce Shoprite opens in Owerri

Spar launches store in Ilupeju

SPAR has opened its ninth store in Residents of Imo state came out
Ilupeju, Lagos mainland with in their numbers today March 24th
funfare with residents trooped to to look and some to shop, at the
the hyper store for the event. It newly commissioned Shoprite
rewarded the first 1,500 shoppers complex in the state.

Click to read more… Click to read more…

Market Watch - March 2016 Edition 24

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5

FMCG

Market Watch - March 2016 Edition

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FMCG - News

Nestle records N24bn profit, final South Africa’s Clover Industries to Pz Wilmar spends N20m on
Dividend of N19 declared quit Nigeria Promo

Nestle Nigeria Plc reported an South Africa’s Clover Industries, Pz wilmar, the producers of
improved performance for the makers of a wide range of food Mamador cooking oil has spent
financial year end 31st December and beverage products has over N20m including three brand
2015 despite the challenging announced that it will no longer new Hyundai Accent cars to
operating environment and the invest in Nigeria due to the appreciate customers in its
company announced a final financial crisis caused by the “mamador cook and cruise
dividend fallen oil price. promo”.
Click to read more….
Click to read more… Click to read more…

Market Watch - March 2016 Edition 26

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FMCG - News Nestle Nigeria net profit rise First STBs with Inview software
amid persistent gusts arrive in Nigeria
OLAM eyes growth in Nigerian
Pasta

Singapore`s Olam International Nestle Nigeria, makers of a wide Nigeria Customs Service has re-
plans to grow its business in range of food and beverage introduced the restriction order on
Nigeria with the acquisition of products such as Milo, Cerelac, importation of rice through land
flour and pasta milling operations Nescafe coffee, among others borders across the country.
of BUA group. Olam has entered released its full year 2015 financial Comptroller-General of Customs,
into agreement to take over results today showing a 7% rise in Col. Hameed Ali (Rtd) gave the

Click here to read more… Click to read more Click to read more…

Market Watch - March 2016 Edition 27

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FMCG - News

Promasidor seeks $25m loan from
IFC to modernize plant

Promasidor Nigeria Limited, makers of 28
Cowbell, Loya and Miksi powdered milk,
among others has applied for a $25m
loan from the International Finance
Corporation (IFC), a member of the
World
To read more, click…

Market Watch - March 2016 Edition

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FMCG – Product Launch and Campaign

New Hollandia Gogurt pack Delta launches clean Nigeria
Launched Campaign

Chi Limited has introduced the Reckit Benckiser (RB) has
new Hollandia Gogurt Grab ‘n’ Go launched a new product Dettol
Packs into the market. multi surface cleaner and new
It comes in handy 315ml packs campaign tagged “Dettol Clean
filled with Hollandia Yoghurt. Naija”. The product which was
unveiled at the premises of Lagos
To read more info, click… University Teaching Hospital LUTH

Market Watch - March 2016 Edition Click to read more…

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FMCG – Promotions Morning Fresh Kitchen Makeover Contest

Quickteller Airtime Giveaway Morning fresh is seeking
to create a masterpiece
Quickteller gave kitchen in respective
everyone an opportunity homes simply by joining
to be richer in the the kitchen makeover
contest it began at the competition.
start of the month of
march called the Click to read more…

Read more…

“Win a trip to Dubai” Mothers Day contest Nosbrite smile & win promo

Dano mothers day Nosbrite Toothpaste is
contest#HereIsToDanoM giving away amazing
oms. During the gifts in the Nosbrite
mothers day period. Toothpaste World Oral
Day.
Click here to read
more To read more, click…

Market Watch - March 2016 Edition 30

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FMCG – Promotions Golden Penny Foods

8 Days of Easter giveaways Golden Penny Pure
Vegetable Oil & Pure
Indomie Noodles Soya oil contain Zero
continues its Easter Cholesterol. Perfect
giveaway with its for a healthy diet plan
contest which entails #TGIF
finding hidden Easter
eggs. View more

To read more... UAC Foods

Three Crowns milk UAC Foods, the
makers of Gala
The #3CPrankGame Sausage Rolls
introduced by three interacts with
crown is on. customers using fun
games and hashtags
To read more… through social media
(Twitter).
Market Watch - March 2016 Edition
View more…
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FMCG – Promotions Startimes App Easter Egg

Pepsodent Nigeria Brush Brush Selfie Contest Startimes App Easter
Egg hunt season 2 is
Pepsodent are on a back.
mission to influence 10
million kids to brush Click to read more…
everyday, day and night
by 2020 and have Minimie chinchin
introduced a new
contest to try to achieve Minimie comedy bank
its mission. funny video
Click for more details.. competition is give
out cash to people
Fan Milk who can make
everyone laugh.
Fan Milk hosted its
first ever Easter Click to read more…
Fiesta during the
Easter holidays. 32

To view more, click…

Market Watch - March 2016 Edition

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FMCG – Promotions

Snapp Easter Selfie Samsung

Take an Easter Sunday Win electronics with
SNAPPshot! @Samsung_Nigeria in
the
#FamilyTimeWithSamsu
ng contest.

Click to read more... Click to read more...

Lafarge gives out 570 bags of Cement 33

Lafarge Africa Plc has
rewarded its
customers with
various prizes with a
customer clinching
the star prize of 50
bags of cement at the
final raffle draw of its

Click to read more…

Market Watch - March 2016 Edition

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FMCG - Counterfeiting

NAFDAC seizes fake assorted drinks in Edo State.

The National Agency for Food and Drug Administration and Control has seized about 20 cartons of different 34
brands of popular alcoholic and non-alcoholic drinks, from 12 shops at Upper Sakponba, Mission Road and
vegetable market, off Airport Road. Test kits were used to ascertain the wholesomeness of the processed
drinks. A Chief Regulatory Officer in the Enforcement and Operations unit of the agency, Joseph Idowu,
decried the prevalence of fake and badly processed drinks in Benin.

Click here to read more…

Market Watch - March 2016 Edition

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FMCG - Counterfeiting

NCC impounds illegal equipment NAFDAC destroys N1bn fake NAFDAC destroys truckloads of
used in stealing DSTV signals products in Ogun expired raw materials belonging

to Guinness

The Nigeria Copyright Commission Nigeria’s National Agency for Food The National Agency for Food and
(NCC) on Saturday in Enugu and Drug Administration and Drugs Administration and Control
impounded illegal broadcast and Control (NAFDAC) has destroyed (NAFDAC) said on Wednesday, it
transmission devices valued at fake and unwholesome products had destroyed expired malt
about N3.5 million in Enugu. worth more than N1 billion in extracts and glucose belonging to
The seizure was made when the Ogun state, west of the country. Guinness Nigeria Plc.
Anti-Transmission Piracy The products destroyed included
Click to read more…
Click to read more… Click to read more…
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Market Watch - March 2016 Edition

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INDUSTRY FOCUS:
NIGERIA TOMATO PASTE INDUSTRY

Market Watch - March 2016 Edition 36

© TNS

Dangote opens Tomato factory to vie with Chinese
imports

The Dangote Group, owned by Africa’s richest man, Aliko Dangote, has opened a tomato-processing factory near
Nigeria’s northern city of Kano aimed at vying for the local market with imports from China. “We have fully started
operations today and the target is 1,200 metric tons per day,” the managing director of Dangote Farms Limited,
which runs the plant, Abdulkareem Kaita, said Tuesday in an interview with Bloomberg.

“We are going to work with the farmers, they can afford to produce more because there’s a processing factory and
they don’t have to suffer losses like they did before.”
Click to read more…

Market Watch - March 2016 Edition 37

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8

Seasonings & Condiments

Market Watch - March 2016 Edition

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Promotion & Advertisement

Onga gave every Knorr taste interacts
great cook a chance telling with customers
to show the world using fun hash games
how good a cook you on social media
really are if they have mostly Twitter
a favourite Easter
holiday recipe Click here to read
more…
Click to read more…

Market Watch - March 2016 Edition 39

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9

Beer & Spirits

Market Watch - March 2016 Edition

© TNS

INDUSTRY FOCUS:
SPIRITS MARKET IN NIGERIA

Market Watch - March 2016 Edition

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 The Nigerian Spirit Market has witnessed an increase in consumer spend characterised by a favourable
change in consumer taste, frequency of Nightlife at Bar/Pubs and availability of smaller SKUs for some
Mainstream Spirit Brands in recent years.

 New market entries by Foreign Spirit Manufacturers and Suppliers has also increased competition
resulting in market share losses even for the Local Nigerian Spirit Manufacturers.

 In order to stay ahead, there has been an increase in marketing activities especially around Brand-
Celebrity Endorsements at events, out of Home Drinking Occasions and other entertainment activities
such as Brand Feature in musical videos.

Market Watch - March 2016 Edition 42

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Nigeria’s 160 million strong population offer a large market for alcoholic beverages. The Nigerian
Alcoholic Drink Market has an estimated of over $6.5 billion. In terms of consumption preference,
Spirits is claimed to be second most preferred alcoholic drink in the country after Beer. Beer and
Wine share 55% and 15% respectively.

Spirit Penetration is
about

30%

in Nigerian Retail Market

Retail and Shopper 43
TNS Spirit Retail Market Offer:

© TNS August 2015

Major players and leading brands (foreign) in Nigeria’s
Spirits market include

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The largest market share Louis Vuitton Moet Hennessy Davide Campari Milano
of imported alcoholic (LVMH; France; controls the S.p.A. (Italy; owns a big
beverages come from super-premium and premium stake in the liqueurs
Diageo (UK; holds a classifications in cognac; their category; products include
majority share in the rum product include Hennessy Campari, Aperol and Glen
segment; products include cognac) Grant)
Johnnie Walker, Smirnoff Pernod Ricard (France;
vodka, Baileys) controls large shares in vodka 44
and brandy; products include
Spirits Market in Nigeria Absolut Vodka and Azteca de
Oro Mexican Brandy)
© TNS August 13, 2015

‘Nigeria’s

Spirits market

worth $2b’

•Local Spirits dominate with 75%

‘Nigeria’s spirits market is worth $2 billion and it is increasing at six per cent average yearly, a report by the Global

Agricultural Information Network (GAIN) has said. While imported spirits account for $500 million, local spirits dominate the

sector with 75 per cent share as they are cheaper than the imported brands, it added. The report, however, said imported

spirits of variousMcalarksseitficWataiotcnhs, -inMclaurdcihng20th1e6inEtdeirtnioantional brands, continue to have preference among Nigeria’s growing

young and educated middle class. The report obtained by The Nation, contains assessments of commodity and trade issues

made by United States Department of Agriculture (USDA). 45

© TNS

Click to read more…

Breweries Intafact Beverage kicks off Champion Breweries reverts to
SABMiller Hero’s foundation profitability on debt payoff
Guinness Nigeria reaches
Resolution with NAFDAC Programme

Guinness Nigeria Plc, said it has The Anambra State Government Champion Breweries Plc ability to pay
resolved the dispute it had with has expressed its gratitude to off its loans has eased up pressure on
the National Agency for Food and Onitsha-based Intafact Beverages its bottom line as the company
Drug Administration and Control, Limited, a subsidiary of SABMiller, reverted to the path of profitability
which began in November, when the world’s number two beer amid a slow growing economy. For
the agency imposed a N1bn fine company by volume and sales, for the year ended
on the brewer. establishing the SABMiller Hero’s Click to read more…
To read more…
Click to read more.. 46

Market Watch - March 2016 Edition

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Breweries

Diageo set to increase use of locally Akwa Ibom State Government to NB Plc receives the 2015 Most
Sourced raw materials in Nigeria start taxing alcohol consumption Compliant Listed Firm award
to head-off headwinds

Diageo said it will increase its use The Akwa Ibom State Government NB Plc has been named the winner
of locally sourced raw materials in has announced that alcohol of The Nigerian Stock Exchange
Nigeria in a bid to tackle current consumption in hotels and beer CEO’s Distinguished Award for
macro-economic challenges in the parlours in the state would now Compliance in 2015. The award
country. Speaking to analyst during attract tax. This was made known also known as the Most Complaint
a conference to journalists in Uyo by the Listed Firm award is given by The
NSE to a company
Click to read more… To read more... Click to read more…

Market Watch - March 2016 Edition 47
47
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Market Watch - March 2016 Edition 48

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Rethink your soft drink!

Guinness Nigeria Officially Launches “Orijin Zero”

Guinness Nigeria Plc has introduced a game changing variant of successful bitters
brand; Orijin.
The launch was held recently on the 16th of March at Protea Hotel and the launch
was graced by Guinness Nigeria Plc top management and distinguished media partners.
Speaking at the event, the Marketing Director Gavin Pike said that ‘Orijin Zero is a
brand that is positioned to redefine the experience in the carbonated beverage
market as it is masterfully crafted with 100% natural herb and fruit extracts’.
Guest were treated to hilarious jokes by Koffi as they enjoyed the bitter sweet taste of
Orijin Zero.
Orijin Zero is a non-alcoholic carbonated soft drink with a bitter-sweet refreshing feel.
It is aimed at satisfying the needs of Nigerians who do not consume alcohol but given
the cultural significance of herbs would love the unique, natural taste of Orijin.
Read more…

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Market Watch - March 2016 Edition

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