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Guinness Nigeria Records 29% Growth in Revenue in Q3

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Guinness Nigeria Plc, the nation’s leading alcoholic beverage manufacturer and a subsidiary of Diageo Plc, has released its unaudited results for the nine months ended 31 March, 2017.

The results detail revenue growth of 29% and a 6% increase in gross profit when compared to the same nine-month period in 2016. While the first half volume growth continued in the third quarter, the third quarter also benefited cycling a weak third quarter last year.

Cost of sales increased by 47% in the nine months due to the challenging economic environment. Finance costs also increased significantly versus last year. As a result the financial statement released to the Nigerian Stock Exchange yesterday included a company loss after tax of N2.6 billion for the nine months under consideration.

Commenting on the results, Mr. Peter Ndegwa, the company’s Managing Director and Chief Executive Officer noted that the company’s significant revenue growth was striking in the challenging operating environment.

“We have been able to deliver strong sales growth even in a challenging operating environment marked by a significant erosion of consumer disposable income.

This encouraging result is attributable to increased volumes and the realisation of pricing benefits. We have started to see the benefit of our broader portfolio product offerings across beer and spirits and across an increased variety of formats. We have also seen resilience in the performance of our premium core brands and improving growth of our more accessible brands.”

He added, “Our gross profit continues to be impacted by the significantly higher raw material costs as a result of devaluation and the significant local input inflation, but benefitted in the quarter from supplier rebates. The company continues to make progress on its commitment to drive out costs across a number of areas as shown by distribution expenses that are down 16% compared to the previous year. Our financing costs at N6.7 billion for the year to date include N1.9 billion of unrealised foreign exchange losses on hard currency liabilities. As a result, we have reported a N2.6 billion post tax loss versus a N0.9 billion profit in the prior year.”

“While we are encouraged by the performance and results recorded this quarter, we remain realistic in our expectations for the full year. We are however confident that we have the right strategy to return to sustainable profitability and shall stay focused on its efficient implementation as we drive out costs, build out our portfolio and ensure we provide our consumers with options in the current pricing environment ”.

The company continues to consolidate its unique position as the only Total Beverage Alcohol Company in Nigeria.

This position has been strengthened over the past year since Guinness Nigeria acquired the right to distribute Diageo PLC’s international premium spirits (IPS) brands, including Johnny Walker, Baileys, Ciroc Vodka and Smirnoff Vodka in Nigeria in December 2015. Investment in its position was further entrenched in November last year when Guinness Nigeria commissioned a spirits manufacturing line at its Benin plant.

These investments strengthen and capitalise on the spirits brand base of Guinness Nigeria, allowing the business to compete across all categories of the alcoholic beverage market thereby deepening its operations and creating the capacity and a strong pipeline for long term growth.

 


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NIGCOMSAT Adopts Government’s Performance System

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Nigerian Communications Satellite (NIGCOMSAT) Ltd, in a strategic move to modernise its operations and foster a results-oriented workforce, has officially adopted the Federal Government’s Performance Management System (PMS).

NIGCOMSAT Adopts Government’s Performance System

The initiative, aimed at driving efficiency and institutionalising accountability, was marked by an intensive staff training program designed to align the agency’s operations with national performance goals and the Presidency’s vision for a digital-first public sector.

According to a statement from Stephen Kwande, the Agency’s acting head of Corporate Affairs, “the transition to PMS is a departure from historical evaluation methods. The new system is designed to provide real-time performance tracking and instill a stronger work ethic across all directorates”.

Welcoming participants, Mrs. Jane Nkechi Egerton-Idehen, managing director/CEO of NIGCOMSAT, represented by Abiodun Attah, executive diirector, Technical Services, described the adoption as “long overdue.

She emphasised that the system is critical for ensuring that NIGCOMSAT contributes effectively to Nigeria’s broader digital economy targets.

In her opening remarks, Mrs. Chinwe Udogu, general manager, Human Resources Management,  expressed NIGCOMSAT’s enthusiasm for the program, urging staff to dedicate themselves fully to the three-day training.

She noted that the exercise was pivotal in repositioning the company to achieve its highest aspirations.

The training consultant, Mrs. Njoku Chioma, said the program is expected to drive culture change, automate work processes, and strengthen institutional performance.

The three-day training, jointly organised by the Office of the Head of Service of the Federation and NIGCOMSAT Management, covers key themes including:

• Overview of the FCSSI25 as an institutional performance-driven Federal Civil/Public Service

• Service culture and workplace attitude in the Nigerian public sector

• Implementation of the Performance Management System in NIGCOMSAT

• Application of Artificial Intelligence tools to enhance performance in the Nigerian public sector

The move comes at a time when NIGCOMSAT is expanding its footprint, with recent initiatives like the 2026 SpaceTech Accelerator Programme and partnerships for grassroots digital skills training.

By strengthening its internal management framework, the agency aims to ensure that its technical advancements in satellite technology are matched by an equally efficient administrative engine.


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Nearly 90% of Organizations Prefer Outsourced or Hybrid Models for their SOC

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Most companies choose to outsource at least part of their Security Operations Center (SOC), with a significant number adopting SOC-as-a-Service (SOCaaS), according to global research by Kaspersky.

This strategic move enables organisations to benefit from round-the-clock protection, ensure compliance with regulatory standards and leverage advanced cybersecurity solutions and qualified expertise that are often beyond their internal capabilities.

As cyberthreats become increasingly sophisticated, organisations are rethinking how they build and operate their Security Operations Centers. With this in mind, Kaspersky carried out a comprehensive global survey to identify the main motivations, strategic goals, and potential challenges associated with its planning and implementation¹.

The findings of this research revealed that 64% of companies plan to outsource part of their SOC, combining internal capabilities with external expertise.

Meanwhile, over a quarter of respondents (26%) are ready to fully implement an SOC-as-a-Service (SOCaaS) model. By contrast, only 9% plan to build their SOC entirely in-house, highlighting the growing challenges of maintaining round-the-clock monitoring and attracting qualified specialists.

SOC outsourcing enables organisations to delegate selected SOC functions or even the entire operational cycle to a trusted external provider. This approach can include a variety of services:

Design and architecture of the SOC.

    Deployment and maintenance of SOC technologies.

    Monitoring and analysis by external security analysts.

    Consulting and training services.

Full SOCaaS delivery, where the provider handles detection, investigation and response around the clock.

Most companies prefer maintaining strategic tasks internally, whilst leveraging external teams and advanced technologies for operational and highly technical workloads. Among organisations planning to outsource SOC functions, the most commonly delegated tasks to third-party providers included solution installation and deployment (55%), solution development and provisioning (53%), and SOC design (47%).

When engaging external SOC specialists, companies also showed a clear preference for augmenting specific roles, with first-line analysts (61%) and second-line analysts (52%) being the most in-demand among external specialists. These figures illustrate that companies focus more on frontline and intermediate security tasks, such as monitoring and responding to threats.

Why do organisations choose SOC outsourcing?

The leading motivator for SOC outsourcing is the need for 24/7 protection (55%) – an operational requirement many internal teams cannot sustain alone. Another highly cited benefit is reducing workload on internal IT security specialists (47%), enabling teams to focus on strategic tasks.

Additionally, access to advanced solutions and technologies (42%) and external support to ensure compliance with regulatory requirements and standards (41%) further drive the decision to outsource, highlighting the value of specialised expertise and cutting-edge tools such as XDR, MDR, MXDR and others.

Budget optimisation is important for only 37% of companies – indicating that the primary value of outsourcing lies in improved protection, not just cost savings.

“The trend towards outsourcing SOC functions, whether fully or partially, is primarily driven by the necessity for enhanced operational focus and strategic agility. By shifting routine and technical tasks externally, organisations are able to concentrate on high-value activities such as strategic decision-making and orchestrating responses to sophisticated threats.

“Moreover, this approach often results in considerable cost efficiencies, allowing for optimised resource allocation. Ultimately, this model transforms the SOC into a critical strategic capability, directly contributing to business continuity,” comments Sergey Soldatov, Head of Security Operations Center at Kaspersky.


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DHQ Indicts Brigadier General Abubakar Sadiq, 15 Others in Alleged Coup Plot againt Tinubu

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Defence Headquarters (DHQ) has made public the full names of 16 officers of the Armed Forces of Nigeria indicted by a Special Investigative Panel over alleged serious misconduct, including an alleged coup plot against President Bola Tinubu.

DHQ Indicts Brigadier General Abubakar Sadiq, 15 Others in Alleged Coup Plot againt Tinubu

The officers suspected to be involved in the coup plot include a brigadier general, a colonel, four lieutenant colonels, five majors, two captains, a lieutenant, a lieutenant commander and a Squandron Leader.

Major General Samaila Uba, director of Defence Information, disclosed this on Monday, stating that the panel had concluded its investigation and established that the affected officers had cases to answer.

According to him, the indicted officers will face a military Court Martial in line with established procedures and existing regulations.

Major Gen. Uba said the probe examined the circumstances surrounding the conduct of the officers and identified actions “inconsistent with the ethics, values and professional standards expected of members of the Armed Forces of Nigeria.”

He stressed that the exercise was purely disciplinary and aimed at preserving internal discipline, cohesion and operational effectiveness, adding that the Armed Forces remain loyal to the Constitution and Nigeria’s democratic order.

  • Brigadier General Musa Abubakar Sadiq (Nasarawa, 44th Regular Course)
  • Colonel M. A. Ma’aji (Niger, 47th Regular Course)
  • Lieutenant Colonel S. Bappah (Bauchi, 56th Regular Course)
  • Lieutenant Colonel A. A. Hayatu (Kaduna, 56th Regular Course)
  • Lieutenant Colonel Dangnan (Plateau, 56th Regular Course)
  • Lieutenant Colonel M. Almakura (Nasarawa, 56th Regular Course)
  • Major A. J. Ibrahim (Gombe, 56th Regular Course)
  • Major M. M. Jiddah (Katsina, 56th Regular Course)
  • Major M. A. Usman (Federal Capital Territory, 60th Regular Course)
  • Major D. Yusuf (Gombe, 59th Regular Course)
  • Major I. Dauda (Jigawa, DSSC 38)
  • Captain I. Bello (DSSC 43)
  • Captain A. A. Yusuf
  • Lieutenant S. S. Felix (DSSC)
  • Lieutenant Commander D. B. Abdullahi (Nigerian Navy)
  • Squadron Leader S. B. Adamu (Nigerian Air Force)

 


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