Nigerian Breweries Plc and the Nigeria Football Federation have announced a 5 year sponsorship deal. The Federation made this known in a notice on its website. Official presentation of the partnership will take place next month. The agreement is also subject to renewal. Pamodzi Sports Marketing Agency brokered the transaction.
This is the second sponsorship deal the NFF has signed this year, the first being with Wapic Insurance. The NFF had in June last year, signed a 5 year agreement with the Aiteo Group for the sponsorship of the Federation Cup, in a deal valued at N2.2 billion.
The Nigeria Football Federation (formerly known as Nigeria Football Association until 2008) is the body in charge of domestic and international football in Nigeria. It was formally launched in 1945 and formed the first Nigerian national football team in 1949. The NFF organises three leagues: The Nigerian Premier League, the Amateur League and the Women’s League.
Nigerian Breweries was incorporated in Nigeria on the 16th of December 1946, under the name Nigerian Brewery Limited. The name was changed on the 7th of January 1957 to Nigerian Breweries Limited. Nigerian Breweries was listed on the Nigerian Stock Exchange (NSE) in 1973.
In 1990, the name was changed to Nigerian Breweries Limited when the Corporate and Allied Matters Act came into effect. The company is a subsidiary of global brewing giant, Heineken BV which holds a 55% stake.
Nigerian Breweries shares closed at N150 in yesterday’s trading session on the NSE. Year to date the stock is up 11.18%
Results for the 9 months ended September 2017 show Revenue increased from N65.3 billion in 2016 to N73.6 billion in 2017. Profit before tax fell however from N2.2 billion in 2016 to N369 million in 2017.