Nigerian Breweries Plc has announced it was considering acquiring an 80% stake in Distell Wines and Spirits Nigeria Limited.

According to a disclosure signed by Uaboi Agbebaku, the company secretary, the brewer informed the group and the investing public that at a specially convened meeting of the Board of Directors held on 30th May 2023, the Board was presented with an offer from Heineken Beverages, South Africa.

The statement read in part, “Nigerian Breweries Plc hereby informs the Nigerian Exchange Limited and the investing public that at a specially convened meeting of the Board of Directors of the Company held on 30th May 2023, the Board was presented with an offer from Heineken Beverages (Holdings) Limited (Heineken Beverages) of South Africa, for NB to acquire Heineken Beverages’ majority interests (via Distell International Limited) in Distell Wines & Spirits Nigeria Limited (Distell Nigeria).”

The board has however resolved to consider the offer in detail with support from external legal and financial advisers before making a decision. It stated also that the outcome of the decision will be communicated in due course.

Notably, Distell Nigeria is a subsidiary of International Limited, which is 100% owned by Heineken Beverages. Its operations are in two folds namely; the Local production of wines (still and sparkling) and ciders and Importation of wines, spirits and flavoured alcoholic beverages from Distell Group in South Africa.

Founded in 2018 with its headquarters in Lagos, Nigeria, Distell International Limited owns 80% shareholding in Distell Nigeria. Its brand portfolio includes Amarula, JC Leroux, Nederburg, Drostdy Haf, 4th Street, Bain’s, Knights, Chamdor, Hunters and Savanna.

With a diverse portfolio of brands with rich provenance and authenticity geared toward enriching lives, its products are priced across the pricing continuum to cater to a broad spectrum of consumers.

Ride-hailing company Bolt has reportedly increased its fare price by over 100%, due to the current fuel scarcity in Nigeria as riders lament bitterly.

The fuel price which has led to the limited availability of commercial buses on the road, has seen riders left with no option but to pay for the exorbitant Tfare.

Some riders revealed that they were tasked by Bolt drivers at the point of pickup to pay extra. While some cooperated, several others did not hesitate to cancel the ride.

Several riders took to Twitter to express their concerns over the increased fare prices on the Bolt app

Check out some reactions below

@KEnwemadu wrote,

“Boltapp, it is pertinent that I call your attention to the sharp increase in the pump price of PMS by 264% in  Nigeria, due to the removal of fuel subsidy. In solidarity with other drivers on Bolt, I ask that you review your fare prices  to reflect the current market reality.”

@FowobiofLagos wrote,

“So Bolt driver is not putting on the AC because there’s no fuel, will he accept half of the fare price? Or is there a price for not putting on the AC? Egbami”

@Nmesoma_O wrote,

“Left home at 6 am to get to VI and traffic don already choke at that time lol. Oh, bolt fare was 6k+”

@Victory_amah wrote,

“My bolt fare was 1600, gave bolt guy 2k cash and this man was telling me “thank you very much”. Kindly stop playing with me, Sir. I sat there till he gave me my balance. See how everywhere is and you want me to give you odindin 400 naira. Come off it jare”.

Investors King understands that in a swift development, as regards fare prices across ride-hailing platforms in the country, riders are increasingly abandoning industry giants Uber and Bolt to alternative platforms such as Indrive and Rida, as Fare prices on these apps are said to be slightly lower, compared to that of Bolt and Uber.

Meanwhile, some drivers on Bolt and Uber have hinted that there would soon be an official announcement of an increase in fare price given the fuel scarcity and the confirmation of fuel price adjustment by the Nigeria National Petroleum Corporation (NNPC).

The Board of Directors of Unilever Nigeria PLC has considered and approved the resignation of Abidemi Ademola as an Executive Director with effect from 31st May 2023.

According to a disclosure signed by Afolashade Olowe on the NGX, the resignation becomes effective from 31st May 2023.

The Board of Directors however wishes Ademola all the very best in her future career and expresses their sincere gratitude to her for the many valuable contributions and legal expertise she brought to the Company over a distinguished 27-year career at Unilever.

The company also noted that her replacement on the Board of Directors of Unilever Nigeria will be announced in due course.

Ademola’s profile

Ademola has over 27 years of experience practicing commercial law and corporate governance in Nigeria and West Africa. She is a qualified and seasoned corporate counsel, governance professional, and executive business leader.

Her specialty is to proactively identify legal, regulatory, compliance, and corporate governance risks to business and develop creative mitigation to enable seamless business operations and sustainability. She is passionately driven by a personal purpose to create a lasting legacy by shaping capability in Governance, Risk, and Compliance.

Abidemi has played a key role in the development of powerful legal teams and the accomplishment of numerous monumental legal transactions and initiatives throughout West Africa. Since more than ten years ago, she has assisted the Unilever Nigeria Board in putting world-class Corporate Governance policies and procedures into place, which has enhanced the effectiveness of the Board.

She has a law degree from Obafemi Awolowo University in Ile-Ife, a master’s degree in law from the University of Lagos in Akoka, and a leadership MBA from Walden University in the United States. She is a member of the Governing Council and a Fellow of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN). She is a Fellow of the WIMBIZ/IE University, Madrid Executive Education Programme for Women on Boards and the WIMBOARD Institute.

Bidemi participates actively in the Nigerian Institute of Directors, the Society for Corporate Governance, and the Nigerian Bar Association. Abidemi served as the first chair of the NBA Section on Business Law’s Corporate Counsel Committee and is currently an officer on the NBA Women Forum’s Corporate Counsel Committee.