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50th AGM: FrieslandCampina WAMCO Records 21% Growth, Announces N324.7 Billion Revenue in 2022

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50th AGM: FrieslandCampina WAMCO Records 21% Growth, Announces N324.7 Billion Revenue in 2022

50th AGM: FrieslandCampina WAMCO Records 21% Growth, Announces N324.7 Billion Revenue in 2022

FrieslandCampina WAMCO Nigeria PLC, the nation’s foremost dairy organization and
makers of Peak, Three Crowns, Coast, Olympic and Nunu milk brands has reported a turnover of N324.7 billion for the financial year ended 31 December 2022. This was
announced at its 50th Annual General Meeting, which held on Tuesday, 9 May 2023 at the Sheraton Hotel, Lagos.
Operating Results and Performance
The Company recorded a growth in net sales due to a focus on revenue growth
management. However, there was a drop in volume which was mainly a result of high
inflation and a reduction in the overall consumer purchasing power. Turnover increased by 21% from N268.4 billion in 2021 to N324.7 billion in 2022. Profit Before Tax (PBT) increased by 6% from N12.7 billion in 2021 to N13.5 billion in 2022 due to lower finance costs and cost management measures.
Ben Langat, Managing Director FrieslandCampina WAMCO Nigeria PLC
“To mitigate the extremely difficult global economic challenges coupled with
unprecedented inflationary pressures witnessed in 2022, we upscaled our commercial
execution with relentless focus on Revenue Growth Management and redistribution
initiatives to stay agile and competitive. We made investments in our brands via diverse
initiatives, optimizing market spend with an increased focus on physical availability.
Leveraging our strong brands and superior commercial expertise has helped to sustain
our leadership position and deliver significant top-line growth.

“Aside the afore-mentioned metrics, I am proud of several achievements in the year
under review that supported our stability and performance. These include but are not
limited to the launch of Peak Yoghurt 1L pack and successful brand activations like the
annual Three Crowns mum of the year campaign. We also introduced Nunu yoghurt,
Nigeria’s first drinking yoghurt made from 100% locally sourced milk and produced in a unique mobile factory, also the first of its kind in Nigeria. This is yet another success
recorded in the actualization of our sustainability and backward integration plans in support of the dairy development policy of the Federal Government of Nigeria. Several awards and recognitions were also received for the Company’s excellence in marketing, safety, quality and manufacturing. These external (and global) recognitions are a validation of our operational excellence and continuous improvement culture in the face
of the tough business climate.

“We will continue to innovate and drive accessibility to our portfolio by incorporating more local content to drive more competitiveness in the market. We remain committed
to delivering quality, affordable and accessible nutrition to millions of Nigerian homes and to building a more productive and sustainable future in Nigeria.”
Moyo Ajekigbe, OFR, Chairman, Board of Directors “The success achieved in 2022 was the result of concerted efforts from various stakeholders, and I would like to thank the Management Team for their focused leadership, hard work and resilience; and my colleagues on the Board for their valuable insights, counsel and teamwork during the last financial year.

“Special acknowledgement goes to our consumers who have remained consistent as they
make their decisions to buy and consume our products on a daily basis, and to our
customers for their confidence in our products and the Company. I would also like to
thank our employees for their passion, hard work and dedication to duty. We continue to
owe our Corporate Head Office a debt of gratitude for their solid support and for their
confidence in Nigeria as an investment destination.

“Following the retirement of Rev. Isaac Agoye and Mr. Robert Steetskamp from the Board
after the last Annual General Meeting, Mrs. Audrey Joe-Ezigbo was appointed as an
Independent Non-Executive Director on 1st December 2022. We welcome Mrs. Audrey
Joe- Ezigbo to our Company and look forward to her valuable contributions.
”In accordance with the Company’s dividend policy, the Board of Directors proposed a
total dividend payout of N2.93 per N 0.50 ordinary share. No interim dividend was paid in
2022 and a final cash dividend payout of N2.93 per N 0.50 share was approved by the
shareholders at the Annual General Meeting.”

Business Outlook 2023
According to economic analysts, the business environment is expected to remain volatile
with rising unemployment, high inflation, high interest rate, insecurity and high exchange
rate. However, despite the expected difficulties and challenges in the business environment,

the Board and Management remain confident about the future of Nigeria and will
continue to invest in the country. We strongly believe that our Company’s brands, which
are leaders in the dairy sector will continue to grow on the back of innovation and our
robust route-to-market. We will pursue our backward integration and portfolio
diversification strategies with renewed energy for continued prosperity and long-term sustainability of our business.

50th AGM: FrieslandCampina WAMCO Records 21% Growth, Announces N324.7 Billion Revenue in 2022

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From Vision to Empire: How Mujahid Turajo Built Til Group into a Multisector Giant

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*From Vision to Empire: How Mujahid Turajo Built Til Group into a Multisector Giant*

What started as a single company with a bold vision has grown into one of Nigeria’s most dynamic business conglomerates. Founded by the visionary Mujahid Turajo, Til Interiors began as a modest interior design company, bringing elegance and functionality to residential and commercial spaces.

Today, that vision has expanded far beyond design—Til Interiors has evolved into Til Group, a powerful conglomerate spanning food production, construction, global trade, and beyond.
With Til Foods, Til Interiors, Til Construction, and Til Global under its umbrella, Til Group is now a driving force in Nigeria’s economic landscape, fostering job creation, innovation, and industrial growth.

Til Interiors: The Foundation of an Empire
The journey of Til Group began with Til Interiors, a company that set out to revolutionise interior design and space transformation in Nigeria. Through innovative designs, premium materials, and expert craftsmanship, Til Interiors quickly gained a reputation for creating luxurious, functional, and aesthetically superior spaces for homes, offices, and commercial properties.

“Til Interiors was our foundation—it taught us the importance of detail, innovation, and excellence. Those same principles now define everything we do across all sectors,” says Mujahid Turajo.

Til Foods: Feeding Nations, Empowering Farmers
As Til Interiors flourished, Mujahid identified a critical need for self-sufficiency in food production and distribution, leading to the creation of Til Foods, which has now grown into a leader in Nigeria’s agribusiness and food industry.

Til Foods is dedicated to sustainable agriculture, food processing, and distribution, ensuring that Nigerians have access to high-quality, locally produced food products. The company oversees the entire value chain, from farming and production to retail and exports.
Within Til Foods, two major brands stand out:
Tomatil – A multi-billion naira state-of-the-art tomato processing factory in Kano, transforming fresh tomatoes into premium tomato paste and products, reducing Nigeria’s reliance on imports.

Til Grills & Restaurant – A high-end restaurant located in Ahmadu Bello Way, Kado, offering a unique dining experience that blends traditional flavours with modern culinary expertise.

“Til Foods is not just a business—it’s a mission to achieve food security, support local farmers, and put Nigeria at the forefront of global agribusiness,” says Mujahid.
Til Construction: Building the Future, One Structure at a Time
Recognising the urgent need for quality infrastructure and housing solutions in Nigeria, Til Construction was established to provide innovative, durable, and sustainable building solutions.

Today, it stands as a major player in real estate development, civil engineering, and large-scale construction projects.

One of Til Construction’s flagship projects is Concord, a residential development located in Life Camp, Abuja. Designed to redefine modern living, Concord features premium residential blocks that blend contemporary architecture with luxury, comfort, and sustainability. The project is set to transform Abuja’s skyline, offering state-of-the-art amenities, top-tier security, and elegant living spaces tailored for families and professionals alike.
“We are not just building structures; we are creating communities where people can thrive. Concord is a testament to our commitment to quality and innovation in Nigeria’s real estate sector,” notes Mujahid.

Til Global: Connecting Nigeria to the World
To support the group’s expansion into international markets and cross-border trade, Til Global was established as the conglomerate’s trade and logistics arm. This division ensures that African goods, resources, and services reach the world stage efficiently and competitively, fostering stronger trade relationships and expanding market access for Nigerian products.

A Legacy of Growth, Excellence, and Impact
From a single interior design company to a multisector empire, Til Group’s journey is a testament to strategic vision, resilience, and a relentless pursuit of excellence. Under Mujahid’s leadership, the company continues to expand, innovate, and set new benchmarks in food production, design, construction, and global trade.
“Our story is about growth, impact, and transformation. We started with a passion for design, and today, we are shaping industries and changing lives across multiple sectors,” Mujahid affirms.
As Til Group enters its next phase of expansion, the company remains committed to its core values of innovation, sustainability, and economic empowerment, ensuring that its legacy continues for generations to come.

*About Til Group*
Til Group is a diversified Nigerian conglomerate with subsidiaries in food production (Til Foods), interior design (Til Interiors), construction (Til Construction), and global trade (Til Global). The group is dedicated to driving industrial and economic growth through innovation, sustainability, and excellence.

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TRANSCORP POWER RELEASES UNAUDITED RESULTS FOR THE Q1 ENDED 31 MARCH 2025

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TRANSCORP POWER RELEASES UNAUDITED RESULTS FOR THE Q1 ENDED 31 MARCH 2025

 

 

 

Transcorp Power Plc (NGX: TRANSPOWER), one of the power subsidiaries of Africa’s leading and listed conglomerate, Transnational Corporation Plc (“Transcorp Group”), has announced its unaudited results for the first quarter ended March 31, 2025.

 

Key Highlights:

 

  • Robust Revenue Growth

 

o    An impressive 55% year-on-year increase in revenue, rising from 67.9 billion to 105.4 billion.

 

o    This strong performance was primarily driven by an increased available capacity of 625MW compared to 500MW in Q1, 2024. This growth has been achieved notwithstanding the liquidity challenges in the sector, showcasing our commitment to closing the power supply gap in the country. 

 

  • Significant Growth in Profit Before Tax

 

o    Profit before tax grew by 50%, from 28.8 billion in Q1, 2024 to 43.3 billion in Q1, 2025.

 

o    This substantial growth reflects not only higher revenues but also continued improvements in cost efficiency and operational excellence.

 

 

MD/CEO of Transcorp Power Plc, Peter Ikenga, comments:

 

“We delivered a strong performance in Q1 2025, reflecting our disciplined execution, reliable operations, and unwavering focus on efficiency. Despite the challenges impacting the sector, we continue to optimise our generating capacity from 500MW in Q1 2024 to 625MW in Q1 2025. We remain firmly committed to delivering long-term value for our shareholders while powering progress across Africa”.

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Ogun State Governor Dapo Abiodun Salutes Aare Adetola EmmanuelKing at 50

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Ogun State Governor Dapo Abiodun Salutes Aare Adetola EmmanuelKing at 50

Ogun State Governor Dapo Abiodun Salutes Aare Adetola EmmanuelKing at 50

The Governor of Ogun State, Prince Dapo Abiodun, CON, has congratulated real‑estate titan Aare Adetola EmmanuelKing, Chairman and CEO of ADRON Homes & Properties, on his 50th birthday.

“Reaching fifty in good health and remarkable professional standing is a testament to God’s grace,” the governor said.

Governor Abiodun lauded Aare Adetola’s “exceptional journey and unwavering commitment to excellence,” noting that ADRON Homes has expanded under his leadership from modest beginnings to a leading national developer that has broadened access to home-ownership for countless Nigerians.

“As governor of your home state, I am proud of your accomplishments,” Governor Abiodun added.

The Governor highlighted Aare Adetola’s deep‑rooted investment in people and the local economy, describing it as a reflection of faith in Nigeria’s limitless potential. He credited the celebrant’s “strategic foresight and community‑driven initiatives” with lifting the country’s real‑estate sector to new heights.

On behalf of his family and the people of Ogun State, Governor Abiodun wished EmmanuelKing continued health, wisdom, and impact, extending heartfelt congratulations to his family, friends, and associates on this golden jubilee milestone.

Ogun State Governor Dapo Abiodun Salutes Aare Adetola EmmanuelKing at 50

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