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Nigeria News (Standard)

Lagos FMCG Giants Record ₦18.9bn Rise in Production Costs, Earnings Hit by Inflation in Q1

Nestlé Nigeria and Unilever report double-digit increase in cost of sales as naira devaluation and rising energy prices squeeze margins

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2 months ago

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Nestlé Nigeria and Unilever report double-digit increase in cost of sales as naira devaluation and rising energy prices squeeze margins

Major fast-moving consumer goods (FMCG) companies based in Lagos reported a significant jump in production expenses for the first quarter of 2026, with rising inflation and higher energy costs eroding their earnings despite improved sales. The development was confirmed on Tuesday following the release of financial statements by Nestlé Nigeria, Unilever Nigeria, Cadbury Nigeria, and Champion Breweries to the Nigerian Exchange Limited (NGX).

A review of the results showed that Nestlé Nigeria faced one of the steepest surges in production costs, as cost of sales climbed by ₦18.91 billion—an increase of nearly 11 percent—to reach ₦194.07 billion in Q1 2026 compared to ₦175.16 billion during the same period last year. The company attributed the higher expenses to persistent inflationary pressures, increased spending on raw materials, and high energy tariffs affecting manufacturers nationwide.

Despite these headwinds, Nestlé Nigeria managed to cushion the impact through stronger revenue generation and operational efficiency, posting a pre-tax profit of ₦73.8 billion—a 44 percent rise from ₦51.2 billion recorded a year earlier. Unilever Nigeria also saw its cost of sales rise sharply by 15.77 percent to ₦32.56 billion from ₦28.12 billion in Q1 2025, but maintained profitability for the period.

Economic analysts say the trend underscores ongoing challenges for Nigerian manufacturers operating under volatile macroeconomic conditions. With headline inflation at record highs according to National Bureau of Statistics (NBS) data and naira depreciation raising import costs, industry players are under pressure to balance input costs with consumer price sensitivity.

Industry stakeholders warn that unless government introduces targeted interventions such as subsidised power tariffs or improved access to forex for importing critical inputs, many FMCG firms may struggle to sustain margins in subsequent quarters. The sector’s performance is seen as crucial for employment and household consumption levels across urban centres like Lagos and Port Harcourt.

Source: https://guardian.ng/business-services/rising-production-costs-shrink-fmcg-firms-q1-earnings/

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Nigeria News (Standard)

Delta Police Arrest Two Suspected Cable Vandals in Ndokwa West

One suspect hospitalised after attempted escape as police recover stolen electric cables along Ibabu–Ugiliamai Road

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1 month ago

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June 27, 2026

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One suspect hospitalised after attempted escape as police recover stolen electric cables along Ibabu–Ugiliamai Road

Operatives of the Delta State Police Command have arrested two individuals suspected of vandalising electric cables in Ndokwa West Local Government Area on Tuesday, 25 June. The suspects were apprehended around 10:30pm along the Ibabu–Ugiliamai Road following a joint operation involving officers from Kwale Police Station and members of the local vigilante group.

According to a statement issued by Delta State Police Public Relations Officer, SP Bright Edafe, the security team acted swiftly on credible intelligence that some persons were removing and stealing electric cables in the area. Upon sighting law enforcement, the suspects attempted to flee the scene, resulting in one of them sustaining injuries during the pursuit. The injured suspect is currently receiving medical attention, while the other is in police custody.

Cable vandalism has become a significant concern in Delta State and across Nigeria, often leading to prolonged power outages and financial losses for communities. The state government has repeatedly called for increased vigilance by residents and closer collaboration with security agencies to combat such crimes.

SP Edafe stated that investigations are ongoing to determine if other individuals are involved in the syndicate. “We urge members of the public to continue providing timely information that can help us protect public infrastructure,” Edafe said in Thursday’s press release.

The police command assured residents that efforts will be intensified to prevent further incidents of cable theft in Ndokwa West and neighbouring communities. Authorities also reminded residents that anyone found engaging in vandalism or aiding such activities would face prosecution according to Nigerian law.

Source: https://guardian.ng/news/nigeria/metro/delta-police-arrest-two-suspected-cable-vandals/

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Nigeria News (Standard)

Trump Claims US Military Strikes in Borno Prevented Mass Killing of Christians by ISWAP

Former US president says American intervention curbed attacks; Nigerian government yet to issue official response

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1 month ago

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June 27, 2026

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Former US president says American intervention curbed attacks; Nigerian government yet to issue official response

Former United States President Donald Trump has stated that military strikes authorised by his administration in Borno State helped prevent the mass killing of Christians by militants linked to Islamic State West Africa Province (ISWAP). Trump made this assertion on Friday during an event held in Washington, where he defended his decision to target terrorist groups operating in Nigeria’s North-East region.

According to Trump, the US military operations significantly reduced attacks on Christian communities in Borno and neighbouring states, which had been facing repeated assaults from ISWAP fighters. He said, “As you know, we recently struck Nigeria and largely ended the slaughter of great Christian populations. They have a great Christian population. They were being butchered—thousands and thousands of people were being killed, children, women, old people, just being slaughtered, hacked to death.”

Trump added that the American intervention sent a strong warning to the militants responsible for these attacks. He claimed the strikes discouraged further violence against religious minorities in the region. The former president did not provide specific details regarding the timing or scale of the US operations referenced.

The Nigerian government and security agencies are yet to release any official statement confirming the reported strikes or commenting on Trump’s claims as at press time. In previous years, Borno State and other parts of North-East Nigeria have witnessed repeated attacks targeting both Muslim and Christian communities by various armed groups, including ISWAP and Boko Haram.

Security analysts say international military cooperation is often conducted discreetly and that foreign involvement in counter-insurgency operations can carry both diplomatic and security implications for Nigeria. The opposition could not be immediately reached for comment regarding Trump’s statements.

Source: https://guardian.ng/news/nigeria/national/us-strikes-in-nigeria-prevented-mass-killing-of-christians-trump/

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Nigeria News (Standard)

Former Super Eagles Coach Adegboye Onigbinde Laid to Rest in Modakeke, Osun State

Onigbinde, who led Nigeria to the 2002 FIFA World Cup, remembered for his legacy in Nigerian football

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1 month ago

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June 27, 2026

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Onigbinde, who led Nigeria to the 2002 FIFA World Cup, remembered for his legacy in Nigerian football

Adegboye Onigbinde, the former head coach of the Super Eagles, was buried on Saturday in Modakeke, Osun State. The burial ceremony drew family members, friends, and football stakeholders who came together to pay their last respects to the veteran tactician.

Onigbinde’s funeral was held at his hometown of Modakeke, marking the end of an era for one of Nigeria’s most respected football coaches. Attendees described him as a disciplinarian and a mentor whose contribution to Nigerian football development spanned decades. Many local residents and members of the football community gathered to honour his memory.

Onigbinde rose to national prominence when he managed the Super Eagles at the 2002 FIFA World Cup. He is credited with nurturing young talent and promoting professionalism in Nigerian football. His death is considered a significant loss by many in the sports fraternity, particularly those from Osun State and across the South-West geopolitical zone.

Though details of official statements were not available at press time, tributes have continued to pour in from fans and former players who worked with Onigbinde during his long career. They praised his dedication and commitment to raising the profile of Nigerian football on the world stage.

As Nigerians reflect on Onigbinde’s enduring legacy, sports analysts note that his impact will continue through coaches and players he mentored over the years. The Nigerian Football Federation is expected to organise further commemorative events in honour of his service.

Source: https://www.premiumtimesng.com/sports/football/891151-former-super-eagles-coach-adegboye-onigbinde-buried-in-modakeke.html

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