Business

Heineken to cut global workforce by 6,000 as beer demands falter

There are fears that Nigeria would be impacted as the company revealed that the cuts would be focused on non-priority markets offering fewer growth prospects.

Published

9 months ago

February 12, 2026

OCHEFA

471 Views

• Heineken

Global brewer, Heineken, yesterday, said it would retrench 6,000 staff out of its 87,000 global workforce this year as it grapples with weak demand and rising costs.

The second biggest brewer by market value has promised to deliver higher growth with less resources as it looks to assuage investors who said it has fallen behind on efficiency.

This is coming right after the surprise January resignation of its current Chief Executive Officer, Dolf van den Brink, leaving the company scrambling for a new CEO.Also, sales across the sector are faltering ⁠amid strained consumer finances, geopolitical turbulence and bad weather.

The company said this ⁠productivity drive will unlock savings and reduce its global head count by 5,000 to 6,000 positions over the next two years, roughly seven percent of its global workforce of 87,000 people.

The company’s head of finance, Harold van den Broek, added that they are doing this to strengthen operations and to be able to invest in growth.

There are fears that Nigeria would be impacted as the company revealed that the cuts would be focused on non-priority markets offering fewer growth prospects.

He added that further cuts would also result from previously announced initiatives targeting Heineken’s supply network, head office and regional business units.

Outgoing-CEO van den Brink, who steps down in May, said that there was ⁠no update on the brewer’s search for a successor.

Along with weak demand, brewers are facing long-term declines in beer sales in some key markets, dented by issues such concerns over the health impact of alcohol consumption.

Heineken expects slower profit growth for 2026 of between 2 and 6 per cent against the 4 to 8 per cent growth it guided for last year.

Related Topics:Featured Heineken brewery Heineken global jobs cut

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Business

Enugu Air Begins London Gatwick flights From December 10, 2026

The Enugu State-owned airline will use an Airbus A330-200 leased from Portugal-based EuroAtlantic under an Aircraft, Crew, Maintenance and Insurance (ACMI) arrangement.

Published

50 minutes ago

November 8, 2026

OCHEFA

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Enugu Air will begin direct flights to London Gatwick on December 10, 2026, with four services weekly.

Tickets are already available for booking.

The Enugu State-owned airline will use an Airbus A330-200 leased from Portugal-based EuroAtlantic under an Aircraft, Crew, Maintenance and Insurance (ACMI) arrangement.

The service is being delivered through a strategic partnership with Omni-Blu Aviation (OBA).

The airline said the service will improve international travel connectivity for passengers departing from Lagos, Enugu and other parts of Nigeria.

Passengers from Enugu will be able to begin their international journey to London from their home airport, Akanu Ibiam International Airport.

The four weekly flights are expected to give travellers greater flexibility between Nigeria and the United Kingdom.

Enugu Air Chief Executive Officer Captain Tolu Ita said: “The commencement of our London Gatwick service reflects our commitment to expanding international connectivity and the vision of His Excellency, Governor Peter Mbah, to connect Enugu to more opportunities across the world.”

He added: “Of particular importance is ensuring that passengers from Enugu can begin their international journey to London from their home airport, Akanu Ibiam International Airport. We are proud to make the journey from Enugu to London Gatwick a reality for our passengers.”

Business

Naira Exchange Rates Thursday, 5 Nov 2026

Published

3 days ago

November 5, 2026

OCHEFA

158 Views

BLACK/ PARALLEL MARKET RATES

₦1400DOLLAR (USD)

₦1830POUND (GBP)

₦1515 EURO (EUR)

₦950 CANADIAN DOLLAR (CAD)

₦70 SOUTH AFRICAN RAND (ZAR)

₦350 UAE DIRHAM (AED

₦190 Chinese YUAN (CNY)

₦100 Ghanaian CEDI (GHS)

West African CFA ₦2240 (XOF)

Central African CFA ₦2180 (XAF)

₦820 Australian Dollar AUSSIE (AUD)

Business

NNPCL wants to sell 10% equity via IPO on NGX, LSE

NNPC is expected to spend at least the whole of 2027 preparing for the proposed offering, with the listing primarily intended to strengthen corporate transparency and governance in line with Nigerian law.

Published

4 days ago

November 4, 2026

OCHEFA

204 Views

The Nigerian National Petroleum Company Limited (NNPC Ltd.) is considering selling between 5% and 10% of its equity through a potential initial public offering (IPO), with the proposed listing expected to focus primarily on Nigeria’s domestic capital market.

The Group Chief Executive Officer of NNPC Ltd., Bashir Bayo Ojulari, disclosed this in an interview with Reuters on Tuesday, November 3, 2026, adding that the company could also pursue a secondary listing in London or New York.

The disclosure comes shortly after the Dangote Petroleum Refinery’s IPO closed on October 27, following a two-week extension of its subscription period from the initial October 13 deadline.

Ojulari indicated that raising additional capital would be a secondary consideration rather than the main reason for going public.

The company is also considering listing some of its subsidiaries separately, following a model adopted by Abu Dhabi National Oil Company (ADNOC), the United Arab Emirates’ state-owned oil company.

Beyond the potential IPO, Ojulari disclosed that Chinese companies have expressed interest in acquiring equity stakes in some of NNPC’s smaller refineries, particularly the Port Harcourt and Warri facilities, which require substantial rehabilitation.