Connect with us

Business

Cadbury Nigeria’s after-tax loss slows to N10.4bn in 2024

Published

on

246 Views

Cadbury Nigeria has recorded an after-tax loss of N10.4 billion in 2024 from N19.1 billion in 2023.

The consumer goods firm’s revenue grew to N129.2 billion from N80.4 billion during the period.

Further analysis reveals that revenue was driven mainly by domestic sales at N114.4 billion while export sales stood at N14.8 billion in 2024.

Inventories grew to N 13.04 billion from N11.9 billion during the comparable periods.

Cadbury’s inventories comprise raw and packaging materials at N4.8 billion, goods in transit at N3.84 billion, spare parts at N2.34 billion, finished products at N1.89 billion and product in process at N178.1 million.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

MAN Calls for FTZs Sanitizing, Following Smuggling Finds

He cited a shocking case of 6,000 metric tonnes of wire coil imported into Calabar FTZ at $11 per ton, instead of the global $500 per ton, describing it as “blatant under-invoicing and economic sabotage.

Published

on

By

14 Views

The Basic Metals, Iron and Steel Group of the Manufacturers Association of Nigeria (MAN) has accused some operators in the Free Trade Zones (FTZs) of having turned the scheme into a smuggling corridor, importing finished and substandard products under the disguise of raw materials.

The Chairman of the Group, Prince Lekan Adewoye, who raised the alarm told journalists in Abuja that these activities are crippling local industries and threatening the country’s economic backbone.

He cited a shocking case of 6,000 metric tonnes of wire coil imported into Calabar FTZ at $11 per ton, instead of the global $500 per ton, describing it as “blatant under-invoicing and economic sabotage.”

MAN is demanding a 10-year audit, recovery of lost revenue, prosecution of offenders, and the establishment of an immediate task force to sanitise FTZ operations.

Nigeria Economic Zones Association (NEZA) and the Standard Organisation of Nigeria (SON) have responded, with SON confirming the rollout of SEZCAP to check FTZ products entering the Nigerian market.

Continue Reading

Business

Senate dispatches five MDAs to handle Ogijo lead poisoning crisis

The motion, jointly sponsored by Mukhail Adetokunbo Abiru (Lagos East) and Gbenga Daniel (Ogun East), was brought under Matters of Urgent Public Importance pursuant to Orders 41 and 51 of the Senate Standing Orders, 2023 (as amended).

Published

on

By

43 Views

The Senate has mandated the Federal Ministry of Health, the Federal Ministry of Environment; the Nigeria Centre for Disease Control (NCDC) including the NESREA and the Federal Ministry of Solid Minerals to quickly look into the lead poisoning crisis at Ogijo community in Ogun State and report back to the Chamber within six weeks.

The motion, jointly sponsored by Mukhail Adetokunbo Abiru (Lagos East) and Gbenga Daniel (Ogun East), was brought under Matters of Urgent Public Importance pursuant to Orders 41 and 51 of the Senate Standing Orders, 2023 (as amended).

During the plenary on Thursday , the lawmakers expressed grave concerns over the reported fast-spreading lead-poisoning crisis in Ogijo, describing it as a full-blown environmental and public-health emergency that threatened thousands of lives.

Lawmakers cited scientifically verified reports of extreme lead contamination linked to a cluster of used lead-acid battery recycling factories operating in the area for years.

According to the Senate, the crisis had left residents battling persistent headaches, abdominal pain, memory loss, seizures, and developmental delays in children, symptoms strongly associated with chronic lead exposure.

The Senate acknowledges and commends the proactive efforts of the Lagos and Ogun State Governments and their relevant ministries and agencies for conducting early inspections, raising community awareness and working with federal authorities to contain the exposure.

The chamber noted with concern that the Federal Government had already begun clampdowns, with the Minister of State for Labour and Employment, Nkeiruka Onyejeocha, shutting down seven battery-recycling factories and ordering a temporary halt to lead-ingot exportation pending safety investigations.

Senators said they were “alarmed that residents have for several years complained of persistent headaches, abdominal pains, loss of memory, seizures, cognitive decline, and developmental delays in children, symptoms strongly associated with chronic lead exposure.”

Despite years of community protests, the smelters allegedly continued operating openly, releasing toxic fumes and particulate dust into surrounding homes, markets and playgrounds.

Some environmental samples, senators noted, showed lead levels “up to 186 times the global maximum safety threshold.”

A major dimension of the scandal, lawmakers said, was that lead processed in Ogijo had already been traced into international supply chains, reaching global battery and automobile manufacturers who either did not address the findings or relied solely on assurances from Nigerian suppliers.

Following the extensive deliberations, the chamber mandated the Federal Ministry of Health and the Nigeria Centre for Disease Control (NCDC) to deploy emergency medical teams to Ogijo to provide free toxicology screenings, blood-lead management, chelation therapy, and ongoing treatment for affected children and adults.

Simultaneously, the Federal Ministry of Environment and NESREA were directed to carry out comprehensive environmental remediation, mapping soil, groundwater, air, and household dust contamination.

The Senate also called on the Federal Ministry of Solid Minerals and relevant regulatory agencies to enforce strict compliance standards for battery-recycling and lead-processing operations nationwide.

Additionally, it recommended establishing a National Lead Poisoning Response and Remediation Task Force within NEMA and directed the Committee on Legislative Compliance to monitor progress and report back within six weeks.

Continue Reading

Business

Cadbury Nigeria PLC: Adeboye Retires as MD, Ogundipe Becomes Interim MD

Pending the formal announcement of Mrs. Adeboye’s successor, Mrs. Ogundipe will manage the day-to-day operations of the Company in her capacity as Interim Managing Director.

Published

on

By

42 Views

Cadbury Nigeria Plc, a subsidiary of Mondelez International, has appointed Mrs. Folake Ogundipe, the current Finance Director, as interim Managing Director.

The appointment followed Mrs. Oyeyimika Adeboye’s retirement as Managing Director, effective November 30, 2025, when she attained the company’s retirement age.

In a statement issued by company’s Head of Corporate Communications and Government Affairs, Dr. Frederick Mordi, Mrs. Adeboye joined the board of the company in November 2008, as Finance and Strategy Director, West Africa.

She was appointed Managing Director on April 1, 2019, becoming the first woman to be appointed to that role since the establishment of Cadbury Nigeria in 1965.

During her tenure, she steered the West Africa business through various phases of growth, transformation and macro-economic volatilities.

Her contributions have been instrumental in achieving substantial growth, positioning the company for continued, sustainable and profitable expansion.

She is known for her servant leadership, being a people-first leader who reliably delivers results for consumers and customers.

Her passion for people has been evident in her focus on talent development, mentorship, overall engagement and strengthening capability of talent across the West Africa business.

“Serving as the Managing Director of Cadbury Nigeria Plc has been an incredible privilege and a crowning chapter of my career,” said Adeboye.

“Over the past six years, I have had the honour of leading a remarkable team and contributing to the growth of a company that holds a special place in the hearts of many.”

Pending the formal announcement of Mrs. Adeboye’s successor, Mrs. Ogundipe will manage the day-to-day operations of the Company in her capacity as Interim Managing Director.

She joined the company in September 2025, subsequently being appointed to the Board as Finance Director.

She is recognised as a distinguished executive leader with extensive multi-decade experience in driving business transformation, delivering sustained shareholder value, and fostering high-performance cultures within the consumer goods sector.

Before she joined Cadbury Nigeria, Mrs Ogundipe held senior leadership positions across diverse sectors, including Executive Director, Finance at Unilever Nigeria Plc, CFO for PES Group (Energy Services Company), and Financial Controller at Nigerdock Nigeria Ltd.

Her sector experience spans FMCG, energy services, and management consulting, giving her a broad and strategic perspective on value creation across industries.

Continue Reading

Trending