Tag: Cadbury Nigeria

  • Obasanjo to Buhari: How to move Nigeria forward

    Obasanjo to Buhari: How to move Nigeria forward

    A think tank established by former President Olusegun Obasanjo to study critical areas of the economy and make recommendations to guide the incoming government on a smooth take off Thursday submitted its report to President elect, General Muhammadu Buhari at his private office along Lobito crescent in the Wuse 2 area of Abuja.

    The Committee which was established four months ago by former President Obasanjo under the Centre for Human Security of the Olusegun Obasanjo Presidential Library studied five key areas of education, power, the economy, security and infrastructure.

    Head of Buhari’s Media team, Mallam Garba Shehu told newsmen that Vice Chairman of the Committee and former Minister of Finance, Dr. Kalu Idika Kalu presented volumes of the report of the committee to Gen. Buhari during a brief ceremony held behind closed doors.

    He also said that former Chairman of Cadbury Nigeria, Dr. Christopher Kolade who was head of the power committee, gave various stages of the proposed power sector development plan to include, short term, medium term, long term solutions.

    Shehu said under the short term solution, the plan seeks to raise the country’s power generation to 10,000 MW within a short period of time, adding that “the whole idea was that Obasanjo set up his own think- tank with the aim of carrying out a study on challenges facing the country in five key areas of Education, Power sector, Economy, Security and Infrastructure. The study was commissioned four months ago so that the outcome will be made available to the incoming administration after the election.”

    He quoted Buhari as appreciating Obasanjo and his team for their effort, describing their intervention as a great impetus for the incoming government.

    Buhari, he said regretted that the out-going government that is supposed to give him tips on how to take-off has done nothing so far and thanked Obasanjo and his team for their gesture, assuring them that his incoming administration will be needing their advice as time goes on.

    Speaking with Journalists after the meeting with the President elect, Chairman of the Governing Board of Centre for Human Security of the Olusegun Obasanjo Presidential Library, Professor Akin Mabogunje said the centre has been working on some critical areas of the economy which they hope will be of help to the incoming government.

    He said the “Centre for Human Security of the Olusegun Obasanjo Presidential Library has being working on a number of critical issues for the development of this country and they have now sent a delegation of those who’ve been involve with the preparation of those policy documents to talk to the president-elect and get him to appreciate what is being done to help his administration. That’s why we are here.”

    Prof. Mabogunje said they looked into such sectors like education, security, economy, power and Infrastructure, saying these “are the areas we’ve made recommendations and which we hope the new administration will be able to work on.”
    Asked how the President elect received the report, the Professor of Geography said “he was very happy that we’ve been thinking about how to help him hit the ground running and he expressed his appreciation for what we’ve been doing.”

    However, Chairman of the APC Transition a Committee, Ahmed Joda who was also present at the ceremony refused to comment on the work on the committee saying “I am here not in the capacity of the chairman of the transition committee. I am here because I am Chairman of one of the committees of the centre that considered security issues at the Obasanjo centre for human security”.

  • ‘Why prices  are rising’

    ‘Why prices are rising’

    The Marketing Director, Cadbury Nigeria Plc, Dele Anifowoshe, has identified low indutrial capacity utilisation as one of the reasons prices of goods keep going up.

    This, he said, impacts negatively on the profitability of organisations and forces price increases, adding that it also affects shareholders’ value and brings about sacking of workers.

    Anifowoshe said when manufacturers produce below installed capacity, profit margin would shrink as fixed cost would continue to incured.

    He, therefore, stressed the need to improve on capacity utilisation across the various sectors of the economy.

    He said if capacity utilisation is maximised, prices would fall as production would be maximised.

  • Cadbury Nigeria may resume dividend payment

    Cadbury Nigeria may resume dividend payment with the 2012 audited report and accounts as the food and beverages company consolidated its recovery.

    Market analysts indicated that Cadbury Nigeria might make its first cash payouts in seven years with the year ending December 31, 2012, citing the company’s positive reserves and improving profitability.

    Third quarter report for the period ended September 30, 2012 showed net profit of N2.08 billion as against N1.56 billion recorded in comparable period of 2011. Profit before tax improved from N2.18 billion to N2.88 billion. Turnover slipped from N24.67 billion to N24.08 billion.

    The report indicated earnings per share of 67 kobo in third quarter 2012, 17 kobo increase on 50 kobo recorded in comparable period of 2011.

    At the last annual general meeting, shareholders of the company were persuaded to forgo dividends and support the board’s decision to plough back net profit after tax of about N4 billion recorded in 2011 to sustain the company’s renewed growth momentum.

    Market analysts said the earnings outlook of the company indicated strong possibility of cash payouts to appreciate the supports of shareholders.

    Chairman, Cadbury Nigeria Plc, Mr Atedo Peterside, had explained that the board decided to retain the 2011 net earnings to provide financial supports to its aggressive reinvestment and capacity enhancement programme.

    Audited report and accounts of Cadbury Nigeria for the year ended December 31, 2011 showed that net profit rose by 217 per cent from N1.17 billion in 2010 to N3.70 billion in 2011. Profit before tax grew from N1.95 billion to N5.08 billion. Turnover, stood at N34.11 billion in 2011 as against N29.17 billion in 2010.

    Atedo said the Cadbury Nigeria’s continuing investment programme was a reflection of the company’s commitment to the long-term viability of the Nigerian economy, adding that the company is being positioned to take advantage of the emerging opportunities in West African markets to grow its business.

    “The company has performed credibly in the last 12 months and is resolved to continue on the current momentum of collective efforts in 2012. Our commitment to shareholder value remains the governing objective, driven by a focused portfolio of strong brands, a revamped route to market structure and a passionate innovative workforce,” Atedo assured.