GRBusiness
Group accuses Obiano as reason N90B investment was diverted from Anambra
Facts have emerged on how Governor Willie Obiano cost his state, Anambra, a whopping N90 investment, which was eventually moved to a more receptive part of the country.
Details of the monumental loss were contained in a statement issued on Thursday in Onitsha by 20 human rights group under the banner of the South-East Based Coalition of Human Rights & Good Governance Organizations (SBCHRO’s).
The coalition lamented the resultant loss of over 600 direct jobs and over 2000 indirect jobs by Ndigbo following the relocation of the Hero brewery to Ogun State.
SBCHRO’s in the statement cited the investment that was taken away from the South-East as part of the cost of failed political leadership in Igbo land.
The statement reads in part: “Particularly saddening and shocking was the recent diversion or relocation, construction, expansion and commissioning (28th August 2018) of a gargantuan N90 billion ($300M) Budweiser/Hero Beer Breweries in Shagamu, Ogun State, Yoruba Land or Southwest Nigeria.
The Brewery; brewers of Hero and Budweiser Beers as well as Grand and Beta Malt, among over half a dozen other alcoholic and soft drinks, was originally attracted to Nigeria in the 90s by former Governor Peter Obi of Anambra State in his private capacity as an international investor-businessman.
The Company, originally “SABMiller Breweries” from South Africa, was recently purchased and taken over by AB InBev (Anheuser-Busch InBev SA/NV), a multinational drinks and brewery holdings company, based in Leuven, Belgium with global net value of $115 billion.
“Obi followed it up when he became Anambra State Governor and succeeded in getting the Company to invest and situate its giant Plant in the Harbour Industrial Layout part of Onitsha and Ogbaru; where it procured and paid for a parcel of land belonging to the General Cotton Mills (GCM) and injected not less than N30billion or $100m (calculation based on official exchange rate) into the Onitsha Plant. The Plant at its commissioning instantly created 200 direct and over 2000 indirect jobs, mostly involving sons and daughters of Igbo Nation. Anambra State Government till date maintains 5% stake in the Company.
“The Company, since its inception in the State in 2010, has continued to pay hundreds of millions of naira as tax into the coffers of the Government of Anambra State; making it the highest taxpayer in the State with tens of millions of naira monthly. The Hero Beer Company has also doled out hundreds of millions of naira worth of cash, materials or kind in fulfilment of its corporate social responsibility obligations to Government and People of Anambra State in particular and the entire Igbo Nation in general. It has further served as a formidable source of investment, employment and poverty reduction mechanisms in the State in particular and Igbo Land in general. The Company and the Nigerian Brewery facility in Udi, near Enugu State Capital City, are the two most surviving and largest industries in Igbo Land today . . .
“SBCHROs also has it on good authority that the Budweiser and Hero Breweries Company approached the present Governor of Anambra State twice for allocation and acquisition of a larger parcel of land to expand their facilities, but got cold response, forcing them to abandon their third scheduled meeting in frustration, leading to relocation to Shagamu in Ogun State, Southwest Nigeria.
“At the commissioning of the N90 billion project on 28th August 2018 with full support and presence of the Governor of Ogun State and members of his cabinet, instant employment of 600 direct or skilled laborers and no fewer than 2,000 unskilled or indirect labourers was announced. The employment rate is also expected to hit thousands and tens of thousands for the skilled and the unskilled involving sons and daughters of the Yoruba Nation in coming years; in addition to projected monthly tax payment of hundreds of millions of naira into the coffers of the Government of Ogun State.
“Social and economic consequences of loss of the gargantuan N90 billion Brewery investments to Yoruba Nation; on Igbo Nation and her People are innumerable.”
On the feelings of the people of the South-East over the development, the group said: “It is therefore heart-breaking and condemnable for the affairs of the Igbo Nation to be left in the hands of ‘apostles of stomach infrastructure and casino bar disco dancers’ parading themselves as ‘elected’ and ‘appointed’ public office holders in Igbo Land. It does not border them at all that perpetrators of physical violence, structural violence and cultural violence against the Igbo Nation and her People have sworn never to allow the Race to reap from fruit of their hard labour.”
The Beer Sectoral Group (BSG), a sector under the Manufacturers Association of Nigeria (MAN), has announced the appointment of Carlos Coutino as Chairman of the Group, effective 1st February 2025.
Mr. Coutino takes over from Hans Essaadi, Managing Director and Chief Executive Officer of Nigerian Breweries Plc, who has served as BSG Chairman since December 2022.
The BSG is a trade association of beer manufacturers in Nigeria, comprising Nigerian Breweries Plc, Guinness Nigeria Plc, and International Breweries Plc. The Group plays a vital role in advocating for responsible alcohol consumption and advancing the interests of the beer industry within the Nigerian market.
Mr. Coutino, who currently serves as the Managing Director/CEO of International Breweries Plc, has nearly two decades of leadership experience within the AB InBev Group. A graduate of Industrial Engineering with an MBA specializing in Strategy, he joined AB InBev in 2004 and has since held top-level roles across three continents and seven countries in Sales, Marketing, and Trade Marketing. He will serve as BSG Chairman for a two-year tenure. In this capacity, he will collaborate closely with the Board of CEOs to provide strategic direction for the BSG, ensuring the Group continues to support industry growth, stakeholder engagement, and regulatory alignment.
Finance
Stanbic IBTC Capital leads Presco PLC’s ₦82.9 Billion Bond Issuance to drive West African market growth
Reporter: SANDRA ANI
Presco PLC (Presco or the “Company”), has achieved a significant milestone with the successful issuance of its ₦82,896,000,000 7-year 23.75% senior unsecured fixed rate Series I Bonds under its ₦150 billion bond issuance programme (the “Transaction”) with the Securities and Exchange Commission (“SEC”). Stanbic IBTC Capital Limited (“Stanbic IBTC Capital”) acted as the Lead Issuing House on the Programme.
The proceeds from the Transaction will enable the Company fund its acquisition of a 100% equity stake in Ghana Oil Palm Development Company (GOPDC), further supporting its strategic expansion objectives.
Speaking on the transaction registration, Mr Reji George, Managing Director / CEO, Presco PLC commented:
“The successful completion of our Series 1 Bond issuance solidifies Presco’s foundation for continued growth and expansion. Aligned with our strategic objectives of increasing our planted area of palm oil and, to lead Africa in the fully integrated edible oil and fats business in the nearest future, the proceeds from this issuance will be primarily directed towards the acquisition of a majority equity stake in the Ghana Oil Palm Development Company (GOPDC).
This not only enhances our operational efficiencies, It also solidifies our market presence and competitive advantage in the palm oil sector beyond Nigeria. Most importantly, this will enable us to better serve our valued customers and deliver sustainable value to our shareholders. We extend our sincere gratitude to Stanbic IBTC Capital and all our advisors for their support throughout this process.”
Also speaking on the transaction registration, Oladele Sotubo, Chief Executive, Stanbic IBTC Capital, said:
“Stanbic IBTC Capital is proud to have advised Presco PLC on the successful issuance of its ₦82.9 billion Series 1 bond. As the largest local currency corporate bond issuance in the Nigerian market in recent years, this milestone underscores our deep expertise in capital markets and our commitment to delivering innovative, high-impact financial solutions.
Beyond reinforcing Presco’s strategic growth, this transaction enhances funding diversification within the agricultural sector, driving sustainable industry expansion. We appreciate Presco PLC’s trust in Stanbic IBTC Capital and the consortium of advisors who contributed to the successful execution of this landmark deal.
Transport
Travelers to Make Money as Ozi Launches to Redefine $460 billion Global Package Delivery Market
Key Takeaways from Ozi launch:
- With logistics representing a $1.34 billion in Africa, the demand for innovative delivery solutions has never been greater
- Nigerians face numerous hurdles when it comes to moving packages, ranging from delays and high costs to a lack of secure options
Ozi (www.ozionline.com), a pioneer community-driven delivery app, launches today, offering users a new way to send packages and earn extra cash.
By connecting people traveling with those needing package delivery, Ozi turns everyday trips into profitable opportunities, aiming to disrupt the global parcel delivery industry, also known as the Courier, Express, and Parcel (CEP) market, currently valued at around $460 billion.
Imagine this scenario – You’re traveling to Abuja from Lagos and have empty space in your car. With Ozi, that unused capacity can earn you extra cash by delivering a package along the way. Or maybe you’re a small business owner who needs to send a package to another state but balk at the high cost of courier services.
With Ozi, you can find a verified traveler heading in the right direction to handle your delivery, Engr. Christian Chime, Ozi’s co-founder and CEO, said during the startup launch held today at Four Point by Sheraton, Victoria Island, Lagos.
“Why travel empty when you can earn?” asks Engr. Chime said. “Ozi allows travelers to make the most of their journeys while helping others get their packages delivered with ease.”
“This simple yet powerful idea leverages the daily movements of millions of Nigerians to create a logistics network that is fast, affordable, and efficient.
“Ozi’s unique approach leverages the everyday movement of travelers to bridge this gap, creating a system where everyone benefits”.
He said that the choice of Nigeria as the first launch-location for Ozi was due the potential the country holds in the parcel delivery sub-sector.
“Actually, we had the opportunity to launch OZI in other country outside Nigeria but for their believe in the Nigeria dream and its potentials made us to choose the country as the first to witness Ozi’s innovation”, the CEO said. “Travelers can now monetize their journeys by delivering packages along their routes, while senders gain access to an affordable and convenient alternative to traditional courier services”.
Ozi combines convenience, innovation, and community to deliver a win-win solution for Nigerians. From quick intra-city deliveries to long-distance trips, Ozi offers an affordable, efficient solution for all.
Whether you’re a traveler looking to earn on your trips or a sender seeking a reliable delivery option, Ozi offers a solution that works for everyone.
In the words of Azubuike Augustine, the co-founder and Chief Technology Officer of Ozi, “Ozi’s mission goes beyond simplifying package delivery. The app represents a broader effort to create shared value for all stakeholders in the logistics process. By connecting senders and travelers, Ozi creates a win-win scenario where costs are reduced, trust is built, and income opportunities are created”.
“Ozi prioritizes safety and transparency. Every user, whether sender or traveler, undergoes a comprehensive verification process that includes ID checks and phone number authentication. This ensures that all participants in the system are trustworthy and accountable”.
To enhance security further, Azubuike said that Ozi offers real-time tracking for all transactions. Senders can monitor their packages throughout the delivery process, ensuring peace of mind. For high-value items, optional insurance coverage provides an added layer of protection, reinforcing Ozi’s commitment to reliability.
“At Ozi, we understand that trust is critical in logistics,” the CTO added. “That’s why we’ve built a platform where every step is designed to safeguard both the traveler and the sender.”
“Ozi is more than an app; it’s a community where everyone wins,” said Ikenna Ani, co-founder/COO of Ozi.
“From today, travelers across the globe can sign up through www.ozionline.com and start making every trip count”, he said. “We have put measures in place to ensure only genuine and verified travelers or senders use the platform. Security is primary for us”.
He added that the app will be released on Google Play Store and Apple (iOS) on January 1, 2025. Ozi Live on Instagram | Facebook.
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