Business News
NAFDAC to ban production of alcohol in sachets
NAFDAC has commenced plans to put a total ban on the production of alcohol in sachets.
The National Agency for Food and Drug Administration and Control (NAFDAC), has announced plans to totally ban the production of alcohol drinks in sachets by 2023/2024.
While making the disclosure to News Agency of Nigeria (NAN) on Wednesday, September 30, 2020, the Director-General of NAFDAC, Prof. Mojisola Adeyeye, said that the banning of the product would be done in phases.
The NAFDAC boss revealed that alcoholic drinks in sachets is expected to be phased out by the end of 2023 or first week of 2024 when it would no longer exist in the society.
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Adeyeye had earlier expressed worry over the sale and consumption of alcoholic beverages in sachets and small volume glass and Poly-Ethylene Terephthalate (PET) bottles. She also complained about the negative effects of irresponsible alcohol consumption on public health and on the safety and the security of the public.
She also pointed out that the concern also relates to the fact that alcohol is also a toxic and psychoactive substance with dependence producing properties.
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According to her, uncontrolled access and availability of high concentration alcohol in sachet and small volume PET or glass bottles has been put forward as a factor contributing to substance and alcohol abuse in Nigeria with its negative impact on the society.
She said the World Health Organization (WHO) reports that alcohol consumption contributes to three million deaths each year globally as well as to the disabilities and poor health of millions of people.
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Adeyeye said, “NAFDAC and the Federal Ministry of Health met on this issue with the distillers’ association, a couple of days ago. We let them know that they can think of business because there is nothing wrong about that.
“NAFDAC and Federal Ministry of Heath also have to think about the society, we had series of meetings at the ministry. We all agreed that we are going to carry out the ban in phases,” she said.
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The NAFDAC boss urged the distillers’ association to reduce the level of alcohol drinks in sachets, pending the time, the deadline will elapse. She said they have agreed to cooperate with them by doing that.
Adeyeye said the distillers’ association had also been tasked to run a social responsibility campaign against underage drinking, adding that a jingle would soon be on air in this regard.
Companies
BREAKING: Dangote delays London Stock Exchange listing
Dangote Cement Plc isn’t expected to attempt a U.K. initial public offering until at least 2023.
Africa’s richest man, Aliko Dangote, is once again delaying plans to list Nigeria’s second most capitalized company on the London Stock Exchange, rather choosing other options like boosting exports and the Nigerian company’s foreign-exchange reserves in a report credited to Bloomberg.
Dangote Cement Plc, Africa’s biggest producer of building material isn’t expected to attempt a U.K. initial public offering until at least 2023, Temilade Aduroja, Head of Investor Relations, at the Lagos-based company, said by email.
“The London listing is not something which will happen in the short to medium term. We are focused on our export strategy and increasing our foreign-currency revenue,” he said.
Dangote, a major shareholder of Dangote Cement, with a net worth of more than $14 billion has longed for the company to have a secondary London Stock Exchange listing to diversify its holding and gain more leverage to cheaper funds on international markets.
Aliko Dangote said in 2018 that the listing would happen the following year (2019), only for Brian Egan, former Chief Financial Officer, to state that 2020 was more likely.
More detail later as the story is developing…
Coronavirus
COVID-19 Update in Nigeria
On the 28th of October 2020, 147 new confirmed cases and 4 deaths were recorded in Nigeria
The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record significant increases as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 62,371 confirmed cases.
On the 28th of October 2020, 147 new confirmed cases and 4 deaths were recorded in Nigeria, having carried out a total daily test of 3,270 samples across the country.
To date, 62,371 cases have been confirmed, 58,095 cases have been discharged and 1,139 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 617,750 tests have been carried out as of October 28th, 2020 compared to 614,480 tests a day earlier.
COVID-19 Case Updates- 28th October 2020,
- Total Number of Cases – 62,371
- Total Number Discharged – 58,095
- Total Deaths – 1,1139
- Total Tests Carried out – 617,750
According to the NCDC, the 147 new cases were reported from 12 states- Lagos (82), FCT (20), Rivers (9), Kaduna (8), Plateau (8), Benue (5), Edo (3), Kano (3), Nasarawa (3), Taraba (3), Ogun (2), Bauchi (1).
Meanwhile, the latest numbers bring Lagos state total confirmed cases to 21,017, followed by Abuja (6,028), Plateau (3,622), Oyo (3,433), Rivers (2,790), Edo (2,657), Kaduna (2,633), Ogun (2,016), Delta (1,813), Kano (1,746), Ondo (1,666), Enugu (1,314), Kwara (1,069), Ebonyi (1,049), Katsina (952), Osun (923), Abia (898), Gombe (883). Borno (745), and Bauchi (711).
Imo State has recorded 616 cases, Benue (491), Nasarawa (482), Bayelsa (403), Ekiti (332), Jigawa (325), Akwa Ibom (295), Anambra (277), Niger (274), Adamawa (257), Sokoto (165), Taraba (143), Kebbi (93), Cross River (87), Yobe (82), Zamfara (79), while Kogi state has recorded 5 cases only.
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Lock Down and Curfew
In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.
The movement restriction, which was extended by another two-weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.
On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020. Also, on Monday 27th July 2020, the federal government extended the second phase of eased lockdown by an additional one week.
On Thursday, 6th August 2020 the federal government through the secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force (PTF) on COVID-19 announced the extension of the second phase of eased lockdown by another four (4) weeks.
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COVID-19 Update in Nigeria
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