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.
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.
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.
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.
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.
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