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Nigerian Bottling Company Celebrates 65 Years in Nigeria

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Coca-cola - Investors King
  • Nigerian Bottling Company Celebrates 65 Years in Nigeria

The Nigerian Bottling Company Limited (NBC), manufacturers of Coca-Cola products, stated its commitment to continued investments in Nigeria as it celebrated its 65th Anniversary. The statement was made at a celebratory cocktail reception with industry stakeholders in Lagos. The engagement was part of the various programmes NBC is rolling out to commemorate its historic milestone and themed, ‘Celebrating a Tradition of Excellence’.

NBC was incorporated in November 1951, and is the bedrock of global bottlers, Coca-Cola Hellenic Bottling Company. “Over the last 65 years, NBC has established itself as a key player in the Nigerian non-alcoholic beverage industry. The Company has remained strong and committed to satisfying its consumers and continue to thrive in a challenging business environment and competitive market terrain.

Speaking at an engagement session with one of the stakeholder groups, Managing Director of NBC, George Polymenakos said, “NBC is continuously making major investments and upgrading its systems, including our human capital to drive world class operations. Over the last six years, NBC has invested over $600m as part of the Company’s transformation journey to drive world class standards in its operations. As NBC continues to pursue excellence in its operations, people and systems, so much is being invested to transform our business, to better satisfy our market and loyal consumers.”

Also remarking at one of the engagement sessions with stakeholders, Sade Morgan, Legal, Public Affairs and Communications Director, stated that, “a key part of the Company’s sustainable growth and development agenda, is its commitment to ensure NBC is in touch with communities, partnering and collaborating with them on a regular basis. Nothing is more important and occupies the heart of our business, than ensuring that the communities we operate in are positively impacted”, the Company’s spokesperson added.

NBC is also championing and driving investment in the well-being of its communities through its intervention programs in the areas of skill acquisition and support initiatives for the youth, women empowerment and other community shared value projects, in other to leave a lasting legacy for generations to come. These projects have received numerous commendations and awards from regulators and other industry stakeholders.

Since incorporation in November 1951, NBC has been consistently manufacturing, marketing and distributing global leading Coca-Cola brands, with an ever widening range of non-alcoholic beverages to the ever growing Nigerian market. The bottling giant has received several industry awards and recognition as a reputable manufacturer and for performing its operations in a sustainable and environmentally friendly way.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Crude Oil

Oil Prices Continue to Slide: Drops Over 1% Amid Surging U.S. Stockpiles

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Crude Oil

Amidst growing concerns over surging U.S. stockpiles and indications of static output policies from major oil-producing nations, oil prices declined for a second consecutive day by 1% on Wednesday.

Brent crude oil, against which the Nigerian oil price is measured, shed 97 cents or 1.12% to $85.28 per barrel.

Similarly, U.S. West Texas Intermediate (WTI) crude slumped by 93 cents or a 1.14% fall to close at $80.69.

The recent downtrend in oil prices comes after they reached their highest level since October last week.

However, ongoing concerns regarding burgeoning U.S. crude inventories and uncertainties surrounding potential inaction by the OPEC+ group in their forthcoming technical meeting have exacerbated the downward momentum.

Market analysts attribute the decline to expectations of minimal adjustments to oil output policies by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, known collectively as OPEC+, until a full ministerial meeting scheduled for June.

In addition to concerns about excess supply, the market’s attention is also focused on the impending release of official government data on U.S. crude inventories, scheduled for Wednesday at 10:30 a.m. EDT (1430 GMT).

Analysts are keenly observing OPEC members for any signals of deviation from their production quotas, suggesting further volatility may lie ahead in the oil market.

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Energy

Nigeria Targets $5bn Investments in Oil and Gas Sector, Says Government

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Crude Oil - Investors King

Nigeria is setting its sights on attracting $5 billion worth of investments in its oil and gas sector, according to statements made by government officials during an oil and gas sector retreat in Abuja.

During the retreat organized by the Federal Ministry of Petroleum Resources, Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, explained the importance of ramping up crude oil production and creating an environment conducive to attracting investments.

He highlighted the need to work closely with agencies like the Nigerian National Petroleum Company Limited (NNPCL) to achieve these goals.

Lokpobiri acknowledged the challenges posed by issues such as insecurity and pipeline vandalism but expressed confidence in the government’s ability to tackle them effectively.

He stressed the necessity of a globally competitive regulatory framework to encourage investment in the sector.

The minister’s remarks were echoed by Mele Kyari, the Group Chief Executive Officer of NNPCL, who spoke at the 2024 Strategic Women in Energy, Oil, and Gas Leadership Summit.

Kyari stressed the critical role of energy in driving economic growth and development and explained that Nigeria still faces challenges in providing stable electricity to its citizens.

Kyari outlined NNPCL’s vision for the future, which includes increasing crude oil production, expanding refining capacity, and growing the company’s retail network.

He highlighted the importance of leveraging Nigeria’s vast gas resources and optimizing dividend payouts to shareholders.

Overall, the government’s commitment to attracting $5 billion in investments reflects its determination to revitalize the oil and gas sector and drive economic growth in Nigeria.

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Commodities

Palm Oil Rebounds on Upbeat Malaysian Exports Amid Indonesian Supply Concerns

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Palm Oil - Investors King

Palm oil prices rebounded from a two-day decline on reports that Malaysian exports will be robust this month despite concerns over potential supply disruptions from Indonesia, the world’s largest palm oil exporter.

The market saw a significant surge as Malaysian export figures for the current month painted a promising picture.

Senior trader David Ng from IcebergX Sdn. in Kuala Lumpur attributed the morning’s gains to Malaysia’s strong export performance, with shipments climbing by a notable 14% during March 1-25 compared to the previous month.

Increased demand from key regions like Africa, India, and the Middle East contributed to this impressive growth, as reported by Intertek Testing Services.

However, amidst this positivity, investors are closely monitoring developments in Indonesia. The Indonesian government’s contemplation of revising its domestic market obligation policy, potentially linking it to production rather than exports, has stirred market concerns.

Edy Priyono, a deputy at the presidential staff office in Jakarta, indicated that this proposed shift aims to mitigate vulnerability to fluctuations in export demand.

Yet, it could potentially constrain supply availability from Indonesia in the future to stabilize domestic prices.

This uncertainty surrounding Indonesian policies has added a layer of complexity to palm oil market dynamics, prompting investors to react cautiously despite Malaysia’s promising export performance.

The prospect of Indonesian supply disruptions underscores the delicacy of global palm oil supply chains and their susceptibility to geopolitical and regulatory factors.

As the market navigates these developments, stakeholders remain attentive to both export data from Malaysia and policy shifts in Indonesia, recognizing their significant impact on palm oil prices and market stability.

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