Connect with us

News

2020 Financial Year: Nigerian Breweries Plc Makes N337b Revenue

Recall that the Company had earlier in 2020, paid an interim dividend of ₦1.999billion which translated to ₦0.25k per share. The final proposed dividend of ₦5.52billion at ₦0.69k per share will be payable to shareholders upon approval on 23 April 2021.

Published

on

The Board of Directors of Nigerian Breweries Plc has released its audited financial statement for the year ended 31 December 2020, declaring a profit after tax of N7.52 billion and a turnover of ₦337.01billion in revenue. This result represents a percentage increase of 4.3% compared to ₦323 billion recorded during the corresponding period in 2019.

In the statement signed by the Company Secretary/Legal Director, Uaboi Agbebaku, the Board of Directors commended the Company’s Management for its efforts in mitigating the impact of the COVID-19 pandemic on the business, as well as the prudent management of its resources as reflected in a 7% reduction in expenses incurred on marketing, distribution, and administration.

The statement further revealed that the Board of Directors will be recommending to the Company’s Shareholders at the forthcoming Annual General Meeting the declaration of a total dividend of ₦7.52billion, at 50k per share representing a hundred percent dividend payout ratio.

Recall that the Company had earlier in 2020, paid an interim dividend of ₦1.999billion which translated to ₦0.25k per share. The final proposed dividend of ₦5.52billion at ₦0.69k per share will be payable to shareholders upon approval on 23 April 2021.

Advertisement

The statement further noted that only qualifying shareholders whose names appear on the Company’s Register of Members at the close of business on 10 March 2021 will be paid the final dividend. Directors would also be recommending to Shareholders for their approval at the forthcoming AGM, a right of election for Qualifying Shareholders to receive new ordinary shares in the Company as against the final dividend in cash.

Despite the negative impact on its operations, it is noteworthy that Nigerian Breweries made various donations in cash and kind valued at about ₦531 million out of a phased commitment of ₦600 million to the Federal and 7 State Governments’ COVID-19 Task Forces Relief Funds.

According to Mr Agbebaku, the Board of Directors expressed confidence that the Company is well-positioned to continue to deliver return on investment to Shareholders. The statement adds that the company remains committed to not only keeping its balance sheet strong but ensuring that the health, safety and welfare of its employees, customers and partners are protected.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Rack Centre hosts Olla Systems’ private cloud infrastructure, OllaCloud Service 

Published

on

Rack Centre, West Africa’s leading Tier III Carrier and Cloud neutral data centre, has welcomed Olla Cloud Service, a new private cloud service by Olla Systems Limited, a leading provider of innovative technology solutions, to its facility.

Hosting at Rack Centre, Olla Cloud Service runs on a state-of-the-art, cloud-enabled infrastructure for enterprise applications across diverse platforms including mission critical application, web applications as well as containerized applications using Kubernetes.

The CEO of Rack Centre, Lars Johannisson, welcoming Olla Systems, noted that the partnership with Olla Systems Limited reflects the company’s commitment to providing African businesses with high-quality cloud computing services. He noted that Olla Systems will enjoy Rack Centre’s 13.5MW data centre campus facility, designed to meet the highest international standards and offering scalable solutions to Hyperscalers, Enterprises, & Cloud service providers.

Citing three distinct features of the data centre facility, he stated the 100% uptime since inception, the facility’s AI-readiness and adoption of green practices. As part of its commitment to sustainability, the facility is equipped with energy-efficient systems, advanced cooling technologies to mitigate environmental impact and an optimally-designed feature to handle high-density workloads with precision.

With features such as N+2 high-efficiency cooling units, an integrated Building Management System (BMS) for optimal performance, and the lowest Power Usage Efficiency (PUE) in the region, the data centre campus facility combines capacity, sustainability, and innovation. This reinforces the position of Rack Centre as a leader in the Nigerian data centre market that will aid the development of Nigeria and West Africa’s digital ecosystem.

Johannisson reiterated, “With Olla Cloud Service hosting at Rack Centre, clients will experience fast performance and low latency, enabling businesses in Africa to access world-class cloud computing services within a secure and compliant local infrastructure.”

Also speaking, Chief Executive Officer, Olla Systems Limited, Olusola Adenuga, expressed enthusiasm about hosting at Rack Centre, noting that OllaCloud remains a groundbreaking private cloud solution for businesses.

While highlighting the benefits of the partnership between Rack Centre and Olla Systems, Adenuga disclosed that subscribing to OllaCloud Service is cost-effective to customers because of its local currency payment advantage. She also noted that the partnership between the duo provides businesses the opportunity to meet regulatory requirements of data residency, while enjoying world-class infrastructure as a service (IaaS) locally.

“Other benefits of hosting with OllaCloud include: 24/7 support, unparalleled performance, scalability and agility.” she added.

OllaCloud Service is the perfect fit for businesses with high-performance needs, from startups with rapid growth plans to enterprises with large-scale operations. Whether you need to migrate existing workloads or build new cloud-native applications, our solution provides the foundation for digital transformation. ENDS

 

About Rack Centre

Rack Centre is the leading Tier III Carrier and cloud-neutral data centre in the West African region.

Established in 2012, the company focuses solely on providing best-in-class data centre colocation services and interconnection between carriers and customers. Knowing this gives customers a technically superior, physically more secure, and lower-cost environment for their information systems.

The Carrier and Cloud neutrality advantage allows customers to manage traffic to get better value, lower latency, and higher resilience. It also creates an open market for partnerships between customers, networks, cloud and content providers, the Internet Exchange Point of Nigeria, AF-CIX, a fast-growing IXP and managed service providers.

Rack Centre’s clientele includes 70+ telecommunication carriers, Internet Service Providers (ISPs), global Tier 1 networks, and pan Africa international carriers, including direct interconnections to all undersea cables serving the South Atlantic Coast of Africa, including Equiano and in the foreseeable future 2Africa and every country on the Atlantic coast of Africa.

Continue Reading

News

Police arrest suspected kidnapper after collecting ransom in Delta

Published

on

Police

A police patrol team and vigilante group from Ibusa Division have arrested a suspected kidnapper, Abdulahi Isah, after he allegedly collected ransom from his victim.

The suspect, who is cooling his heels in police custody, was arrested in the Ibusa bush on 12/3/2025.

Delta State Police Public Relations Officer, SP Bright Edafe, confirmed the report in a statement sent to our correspondent in Warri.

The police spokesperson said, “On 12/3/2025, at about 1100 hours, an indigene of Ibusa (name withheld) reported at Ibusa Police Station that his friend’s wife was kidnapped on 7/3/2025 and a ransom was paid. He stated that he was the one who delivered the ransom and other food items to the kidnappers.”

According to SP Edafe, “Acting on useful information provided by the said man, the DPO of Ibusa Police Station swiftly mobilized the patrol team of Ibusa Division alongside vigilantes and stormed the bush, where the suspect, Abdulahi Isah, was arrested.”

He added, “The suspect is in custody, and the investigation is ongoing.

 

Dailypost

 

Continue Reading

News

Raye: Sowore, lawyers accompany NYSC corper as officials summon her over comment against Tinubu

Published

on

Raye

Omoyele Sowore and other activists, including lawyers, accompanied the Lagos-based National Youth Service Corps, NYSC, member, Ushie Uguamaye, also known as Raye, to the office of her Local Government Inspector, LGI, who summoned her over a viral video.

Gatekeeper recalls that Raye recently went viral for criticizing President Bola Tinubu’s government.

In a video posted on her TikTok account #talktoraye over the weekend, Raye voiced her frustration over Nigeria’s deteriorating economic situation, blaming President Tinubu for the hardship.

The corps member also described the president as a “terrible leader.”

In another video clip that went viral on social media, the corps member was heard claiming that she was being threatened by officials of the NYSC.

Following her public outbursts, Raye was summoned to appear in the office of her Local Government Inspector (LGI) for questioning on Monday.

Raye, who secured the backing of several political bigwigs, was accompanied to the office on Monday by Sowore and some legal practitioners.

In an update on his official X handle, Sowore claimed that the NYSC officials failed to show up.

He wrote, “We arrived at the Eti-Osa LGI offices of the @officialnyscng with youth corper, Ushie Rita Uguamaye, in Lagos. She was scheduled to appear before the LGI today, and we escorted her to their offices with attorneys.

@mrfestusogun, @yinka_oyesomi, and @justiceojienoh, but the LGI official had absconded, failing to show up throughout our stay.”

Continue Reading

Trending

Copyright © 2025 Naija Gatekeeper News