NEWS
Nigerian Breweries Records N479.8bn Revenue in 6 Months

Nigerian Breweries Plc, a leading total beverage alcohol company, has declared a 34 per cent increase in its operating profit for the half-year ended June 30, 2024.
Mr Hans Essaadi, the Managing Director, Nigerian Breweries Plc, said this in a statement on Wednesday in Lagos.
Essaadi said the company recorded a 73 per cent increase in revenue within the period.
He said that the company’s revenue during the period surged to N479.
8 billion from N277.4 billion in the comparative period of 2023.He noted that the company was able to achieve all that in spite of the challenging operating environment characterised by soaring inflation, exchange rate volatility, security challenges, elevated input costs, and rising cost of living.
Essaadi stated that in the six months ended June 30, 2024, Nigerian Breweries demonstrated resilience and was on the path to recovery as seen in the results delivered.
He attributed the company’s revenue growth performance to strategic pricing, innovation, volume growth, and market recovery.
“Cost of sales, distribution, and admin expenses increased by 46 per cent, largely due to inflationary pressure and foreign exchange devaluation impacting imported materials.
“We also continue to invest behind our brands and categories and support the recovery of the market,” he said.
Essaadi also disclosed that the company was in the process of initiating a rights issue to raise up to N600 billion additional capital.
This, he said, would restore the business to profitability and enhance operational and financial stability as part of its resilient and forward-thinking strategy.
“The funds raised will be used to eliminate our foreign exchange-denominated debts and reduce our local debts, thereby mitigating our exposure to the continuing economic challenges.
“Through our cost-saving and other efficiencies initiatives, we recorded a 34 per cent increase in operating profit, signalling the resilience and strength of our operations.
“We are conscious of the continued challenging operating environment with double-digit inflation and pressured consumer income spending.
“However, we continue to focus on our strategy to deliver value to our shareholders while contributing to the country’s economic development,” he said.(NAN)
NEWS
21 Terrorists Neutralised in Damboa Again — Army

Troops of Operation Hadin Kai (OPHK) have repelled a deadly attack by ISWAP terrorists in Damboa, Borno, neutralising 21 insurgents and recovering a cache of arms and ammunition.
Capt. Reuben Kovangiya, Acting Deputy Director, Army Public Relations, Headquarters Theatre Command, confirmed this in a statement issued in Maiduguri on Friday.
Report saya that the attack, which occurred in the early hours of Friday, targeted troops of the 25 Task Force Brigade.
Daily Asset, however, reports that the soldiers, with the support of the Air Component of OPHK, engaged the terrorists in a fierce and prolonged firefight that lasted over two hours.
Kovangiya said the troops displayed gallantry and tactical superiority during the confrontation, forcing the terrorists to retreat in disarray, leaving behind more than 21 of their fighters who were neutralised during the engagement.
“The gallant troops, supported by Close Air Support, stood their ground and repelled the attack despite the ferocity of the enemy.
“The insurgents suffered devastating losses and were forced to flee,” he said.
The spokesman said that during the exchange of fire, an ammunition storage facility within the military formation was hit by a blast, but the situation was quickly brought under control.
He also confirmed that the troops recorded minor casualties.
“Following the mop-up and exploitation operation, the following weapons and ammunition were recovered:
“Two General Purpose Machine Guns (GPMG) three Rocket Propelled Grenade (RPG) tubes, one pump-action rifle, nine AK-47 rifles, three belts of PKT rounds, eight AK-47 magazines, seven RPG bombs, two boxes of 12.7mm x 99mm ammunition, one and a half box of PKT rounds and 20 pieces of 36 hand grenades,” Kovangiya said.
The spokesman said that the success of the operation was a clear demonstration of the effectiveness of joint land and air efforts in counterterrorism operations which further reaffirmed the Nigerian military’s resolve to restore peace in the North-east.
“The bravery and sacrifice of the troops remain a symbol of national pride.
“Their unwavering commitment to defeating insurgency and restoring peace in the region is commendable,” he said.(NAN)
NEWS
Enugu Govt Sets up Human Development Council

Gov. Peter Mbah of Enugu State, on Friday, inaugurated the Enugu State Human Development Council at the Government House. He stressed that human capital remains the true wealth of any nation and a core priority of his administration. The Council is chaired by the Deputy Governor, Ifeanyi Ossai, and includes State Executive Council members and heads of MDAs.
Also represented are the legislature, local governments, traditional rulers, church leaders, and civil society organisations. Mbah explained the Council aligns with his government’s emphasis on human development and social investment. He urged the members to take the task seriously and work towards tangible outcomes. “One of our top priorities is eradicating poverty and reducing the poverty headcount to zero,” Mbah noted. He added that the government’s philosophy prioritises human capital over natural resources. “Our last two budgets allocated over 50 per cent to social services,” the governor stated. In his response, Ossai assured the governor of members’ commitment to the Council’s goals. He emphasised that all government initiatives — from schools to roads — are people-focused. “All our projects aim to improve lives, and the Council will help us track and measure progress,” Ossai said. (NAN)NEWS
ASUU Demands Action, Threatens Nationwide Strike

The Academic Staff Union of Universities (ASUU) has urged the Federal Government to honour the 2009 FG/ASUU agreement or face a nationwide industrial action. ASUU President, Chris Piwuna, issued this warning during a news conference in Abuja on Friday. He stressed the importance of the government fulfilling its promises and addressing the worsening conditions in Nigerian universities.
According to Piwuna, nine critical issues remain unresolved, including the stalled renegotiation process since 2017. He mentioned withheld salaries from the 2022 strike and unpaid entitlements linked to the contentious Integrated Payroll and Personnel Information System (IPPIS). Piwuna also criticised the delayed release of revitalisation funds and earned academic allowances due to government inaction. In spite of promises to inject ₦150 billion into universities and adjust irregular allowances by 2026, he said these commitments remain unfulfilled. He highlighted the marginalisation of ASUU members at state institutions such as Kogi State University and Lagos State University. According to him, victimisation, salary denial, and job insecurity persist in those universities, undermining staff morale. On university autonomy, he said political interference has compromised the selection of leaders, citing Nnamdi Azikiwe and Abuja universities as examples. Piwuna warned that universities are becoming battlegrounds for political and economic interests, which he described as unacceptable. He called for a national rebirth through education, saying it is vital for Nigeria’s transformation and prosperity. To address the crisis, he proposed a national education summit focusing on funding, autonomy, and academic welfare. “Education empowers citizens, drives innovation, and instils values. Without it, development is impossible,” Piwuna said. He reaffirmed ASUU’s commitment to reforming Nigerian universities and urged patriotic Nigerians and global allies to support their struggle. “Our universities should be centres for solutions to national challenges. “We are open to dialogue but will not tolerate further erosion of our rights,” Piwuna said. (NAN