Connect with us
Advertisement
Oando
Advertisement
Alpha
Advertisement
Hotflex
Advertisement
Binance
Advertisement
Advertisement
UBA
Advertisement
Patricia
Advertisement
Access bank
Advertisement
app

Business News

Is Nestle Nigeria’s recently-launched seasoning brand even necessary?

One of Nigeria’s leading Fast-Moving Consumer Goods manufacturers —Nestle Nigeria Plc, recently unveiled a new product called Maggi Signature.

Published

on

Maggi Signature, Nestle Nigeria revenue climb 5% as profit hit N26.2 billion, Nestle Nigeria's Unaudited Financial Statements, Nestlé S. A. acquires additional shares in Nestlé Nigeria worth N2.92 billion, Switzerland based Nestlé S.A splashes N774 million to acquire shares of its Nigerian Subsidiary

One of Nigeria’s leading Fast-Moving Consumer Goods manufacturers —Nestle Nigeria Plc, recently unveiled a new product called Maggi Signature.

The Details: Speaking during a recent launch party held in Shagamu, the company’s CEO, Mauricio Alarcon, noted that the new product was specifically designed to appeal to the average Nigerian food lover. He further highlighted the qualities of Maggi Signature which he claimed the company used “familiar” and “common ingredients” to prepare.

Also speaking about the new product, the company’s Culinary Category Manager, Nwando Ajene, highlighted the supposed benefits of Maggi Signature. According to him, the new product serves the purpose of bringing out the unique tastes in typical Nigerian dishes, just like the people like them.

“Signature Jollof seasoning helps the authentic party Jollof, Signature Miya accentuates the zoin taste of your favourite northern soups while Signature ‘Pottage’ seasoning brings to life that ‘correct pottage taste’.”

[READ THIS: Is Nestle’s Golden Morn Puffs a hit or miss?]

But is this necessary? With the recent unveiling of the seasoning product, Nestle Nigeria Plc is hoping to continue maximising the existing opportunities in a market where consumers are always on the look-out for new, exciting tastes.

As you may well know, Nigeria has a population of nearly two hundred million people. This situation offers an exciting opportunity for players in the FMCG space; specifically the affordable seasoning market. After all, nearly two million hundred Nigerians eat meals that are prepared with locally-manufactured seasonings, albeit on a daily basis.

However, the brand will face competition. This is because Nestle Nigeria Plc is not the only player in the Nigerian seasoning market. The company’s Maggi brand (which has been in existence since 1872), is currently competing with Unilever’s Knorr.  More so, there are a number of other seasoning brands in the market.

[READ FURTHER: These Seasoning cubes are setting the Nigerian food market on fire]

Going forward, the Maggi Signature brand is expected to complement Nestle Nestle’s overall financials which, so far this year, have been positive. The company’s revenue rose by 5% from N67.4 billion in Q1 2018 to N70.9 billion in Q1 2019.

Profit after tax also increased from N8.6 billion in Q1 2018 to N12.8 billion in Q1 2019, indicating a 49% increase quarter on quarter.

Nestle Nigeria Plc ended today’s trading session on the Nigerian Stock Exchange at N1,345.

Emmanuel is a professional writer and business journalist, with interests covering Banking & Finance, Mergers and Acquisitions, Corporate Profiles, Brand Communication, Fintech, and MSMEs.He initially joined Nairametrics as an all-round Business Analyst, but later began focusing on and covering the financial services sector. He has also held various leadership roles, including Senior Editor, QAQC Lead, and Deputy Managing Editor.Emmanuel holds an M.Sc in International Relations from the University of Ibadan, graduating with Distinction. He also graduated with a Second Class Honours (Upper Division) from the Department of Philosophy & Logic, University of Ibadan.If you have a scoop for him, you may contact him via his email- [email protected] You may also contact him through various social media platforms, preferably LinkedIn and Twitter.

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Spotlight Stories

Tip Jar, Twitter’s new giveaway feature that lets users send money to you

Twitter has introduced a new feature called Tip Jar that allows you send money to your favourite tweeters.

Published

on

US Elections: Twitter, Facebook suspend several news accounts

Twitter has introduced a new feature called Tip Jar that allows you send money to your favourite tweeters.

According to the blog post, “Tip Jar is an easy way to support the incredible voices that make up the conversation on Twitter. This is a first step in our work to create new ways for people to receive and show support on Twitter – with money.”

The new feature utilizes different payment platforms like PayPal, Venmo, Patreon, CashApp, and others.

Users can link their Twitter accounts with Tip Jar to any of these payment providers. Twitter takes no cut.

READ: Facebook is creating an audio chat product similar to Clubhouse

You’ll know an account’s Tip Jar is enabled if you see a Tip Jar icon next to the Follow button on their profile page. Tap the icon, and you’ll see a list of payment services or platforms that the account has enabled. Select whichever payment service or platform you prefer and you’ll be taken off Twitter to the selected app where you can show your support in the amount you choose.

Twitter has released series of features this year as part of its efforts to grow Twitter’s user base to 315 million daily active users by the end of 2023.

The company also launched Twitter crop where images don’t get crop again on Twitter for Android or iOS. Standard aspect ratio images (16:9 and 4:3) will now display in full without any cropping and images will look just like they did when you shot them.

Hotflex

READ: Does YouTube stand a chance against TikTok?

Lauren Alexander, a Twitter spokesperson said, “Today’s launch is a direct result of the feedback people shared with us last year that the way our algorithm cropped images wasn’t equitable, The new way of presenting images decreases the platform’s reliance on automatic, machine learning-based image cropping.”

Twitter has tested several features and more will be rolled out soon.

Continue Reading

Business

Customs Apapa Command generates revenue of N65.4 billion in April

This indicates a 64% increase in collection and an unprecedented record that has never been achieved in the history of Apapa Area Command.

Published

on

Border closure: Amid N5bn daily revenue, Customs officials lament allowance slash  

The Nigerian Customs Service (NCS) Apapa Area Command has announced a revenue of N65,463,398,355.85 for the month of April—an increase of N25,585,561,139.92 compared to the same period last year.

This was disclosed by Comptroller Ibrahim Yusuf, Area Controller of Apapa command, in a press briefing on Thursday.

What Ibrahim Yusuf is saying

“This indicates a 64% increase in collection and an unprecedented record that has never been achieved in the history of Apapa Area Command.

In line with the provision of extant laws, trade guidelines, and enforcement of government fiscal policy measures, the command was able to further strengthen its anti-smuggling operations against economic saboteurs through credible intelligence-driven operations.

READ: Customs revenue rises by N200 billion to hit N1.5 trillion in 2020

This led to the seizure of 4×40 feet containers laden with unregistered pharmaceuticals (674 cartons of tramadol tablets in 225mg and 120mg, and 805 cartons of codeine syrup in 100ml) at APMT and SIFAX 3 bonded terminal respectively.

Other items seized in the period under review include: two containers of unprocessed wood and one container of scrap copper wire,” he said.

He added that the progress the Apapa Command made in the month of April was possible due to the resilience of the officers, citing that the Command had taken steps to ensure efficient revenue collection by creating an enabling environment for legitimate businesses to thrive.

What you should know

Recall Nairametrics reported that the Nigeria Customs Service (NCS) Apapa Command stated earlier that it generated a revenue of N159.58 billion in the first quarter of 2021.

Continue Reading

  





Nairametrics | Company Earnings

Access our Live Feed portal for the latest company earnings as they drop.