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Cadbury Nigeria PLC, company profile

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Cadbury Nigeria

Cadbury Nigeria Plc is a food, sweets and drink company headquartered in Lagos, Nigeria and traded on the Nigerian Stock Exchange.

Cadbury Schweppes history in Nigeria dates back to the 1950s when it began sourcing for cocoa and also importing bulk products and repacking it into tins for sale in the country.

Later finding increasing market opportunities in the country, the group set up a manufacturing facility in January 1965.

The firm became a publicly quoted company in 1976 when Cadbury Schweppes sold 20% of its interest in the firm.

The firm’s investment in the integration of its supply chain led to the establishment of a sorghum conversion plant and Stanmark Industries in Ondo, a cocoa processing plant.

Stanmark provides raw materials for its key product, Bournvita and is a source of foreign currency through exportation of cocoa products.

In 2006, the subsidiary processed 15,000 tonnes of cocoa beans into cocoa butter, cocoa liquor, and cocoa powder.

In 2006, the firm released a statement disclosing financial misstatements in a number of previous annual reports. Immediately after the disclosure, the CEO and finance director resigned their positions.

The firm later announced it will be taking exceptional item charges on its balance sheet as a result of the misstatements.

The firm’s major products are Bournvita and Tom-Tom. The former was introduced to the country in 1960 and the latter in 1970.

Following the establishment of a manufacturing plant in 1965, the firm spent funds on advertising Bournvita, and in the process increased the market share of the brand. Bournvita later became a market leader in its category. To improve nutritional needs, in 1994, the firm included essential vitamins and minerals in Bournvita.

Other products of the company include Cadbury Eclairs, Malta sweets, Trebor and Peppermint original.

Beverages contributed 58% of its revenues in 2018 and sweets contributed 26%. In addition, it markets Creme Rollers, Chocki, Hall Take 5 and Bubba Gum.

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Nigeria

Nigerian gov’t to revisit national carrier project, Air Nigeria

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Hadi Sirika

The Minister of State for Aviation, Hadi Sirika, on Monday, said plans were underway by the federal government to revisit the national carrier project.

He said the ministry only suspended the project to put adequate measures in place, promising that the project would be delivered soon.

“We have to suspend the earlier plans for the national carrier for strategic reasons. The move was not killed. Provisions have to be made to continue to fund activities of advisers and so on, to ensure that it is delivered. The carrier will be delivered within the life of this administration, this I can assure you.

He said the project, which was President Muhammadu Buhari’s brainchild, would not be allowed to die.

He expressed concern that despite being a huge aviation market, Nigeria could not boast of a national carrier.

He said the process would be transparently done through local and international fora and media.

He added that anybody who was interested in getting in information on funds spent and other processes was free to do so, stressing that the ministry would be willing to respond.

The minister lamented that besides the huge revenue loss due to absence of a national carrier, Nigerians still pay exorbitantly to use air carriers belonging to other countries.

According to him, one of the major ways to save Nigerians of exorbitant airfares is to have a national carrier.

”When I was in the House of Representatives in 2006, we did invite British Airways to discuss and the answer we got was that they charge exorbitantly because Nigerians can afford it.

”They charge these fees without corresponding challenge. It is very difficult for the ministry to tell entrepreneurs what they should charge.

”This is the whole importance of having a national carrier. It is about competition. Nigerians are highly mobile people with very huge businesses. You find out that the first class and business class is always full,’’ he said.

The Chairman of the Senate Committee on Aviation, Adamu Aliero, commended the minister for his efforts at repositioning the aviation sector.

He, however, said the sector was capable of generating huge revenue for the country if well positioned.

He advised the minister to engage more often with critical stakeholders including the National Assembly for advice in carrying out his mandate.

He further advised agencies under the ministry to be up and doing in securing the lives of Nigerians, who often use air transport as well as ensuring that they complied with international best practices.

The federal government on September 19, 2018 suspended the national carrier project.

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Company Profile

Boomplay Music, Nigeria’s streaming on-demand media

Boomplay is the No.1 music app in Africa that gives you unlimited access to African and international songs and videos

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Boomplay
Boomplay Music logo

The Boomplay Music service was first launched in Nigeria in 2015 by TECNO Mobile – a freemium service; basic features are free with advertisements or limitations, while additional features, such as offline save and play and ad-free listening are offered via paid subscriptions.

The service is currently available for Web, Android, and iOS use. As of August 3, 2018, it’s recorded 10 million installations off the Google Play App store. It currently has 42 million user

The streaming platform primarily focuses on African local and urban music content and was first launched in Nigeria in 2015.

The company released “Boomplay Music Version 2.1″ in March 2016 introducing its Premium Subscription which featured paid subscription services, ad-free listening, and offline play.

In March, 2017 – they released Version 3.0 which featured a new logo, redesigned User Interface, the follow feature and the introduction of a new “Buzz” feature that allows users access to entertainment news without leaving the app.

In 2017, it won the ‘Best African App’ Award at the AppsAfrica Innovation Awards in Cape Town, South Africa and on April 14, 2017, announced a partnership with TuneCore.

On 5 November 2018, music giant agreed on a deal with Universal Music Group to distribute content from Universal’s music labels.

In December 2018, the iOS version of the app was released. In March 2019, Boomplay announced a licensing deal with Warner Music Group.

Boomplay Music announced its move into East Africa by opening its Kenyan office in August 2016. It opened its Tanzania office In April 2017.

Accounts and subscriptions

As of January 2018, the two Boomplay subscription types, both offering unlimited listening time and enhanced sound quality (up to 320kbps bitrate) are:

Type Ad-Free Mobile listening Enhanced sound quality Offline Save and Play Music downloads
Boomplay Music Free No Limited Yes No Yes
Boomplay Music Premium Yes Yes Yes Yes Yes

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Nigeria

Nigerian Press Council

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Nigerian Press Council

The Nigerian Press Council (NPC) is a parastatal established by government decree in December 1992, Act No. 85 of 1992 (as amended in Act 60 of 1999) to ensure the maintenance of high professional standards for the Nigerian Press.

Like most other Press Councils around the world, the functions of the NPC revolve around ethical standards.

The Council, therefore, has as one of its major functions, the duty to inquire into complaints against the Press from the Public and also into Complaints from the Press about the conduct of persons or organizations towards the Press. Simply put, the Council serves as a buffer between the Press and the public.

Attempts to establish this self-regulatory body for the Nigerian Press started as far back as two decades ago with the setting up of a commission named the Ekineh Commission.

The Commission which was set up after a distinguished Nigerian attorney by the General Yakubu Gowon government was to study the future of the Nigerian media.

It, however, did not make its findings public and so it was an exercise in futility. A further attempt was made through the establishment of the Nigerian Media Council Decree No 59 of 1988 but which was aborted largely because journalists were a bit apprehensive by the seemingly totalitarian powers conferred on the Council.

The current statute, the NPC Act No. 85 is more or less a consensus Act arising from hard bargaining between government and the Nigerian Press Organisation (NPO), an umbrella body for the major stakeholders in the industry.

The Council board is headed by a chairman who is appointed by the President and 18 other members selected from the following:

Organization Number of members
The Nigeria Union of Journalists (NUJ) 4
Nigerian Guild of Editors (NGE) 2
Newspaper Proprietors’ Association of Nigeria 2
The Broadcasting Organisation of Nigeria
News Agency of Nigeria
The Federal Ministry of Information 1
General Public 2

These stakeholders include the Nigeria Union of Journalists (NUJ); the Nigerian Guild of Editors (NGE); and the Newspapers Proprietors’ Association of Nigeria (NPAN).

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