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Beans prices increase by over 270% as Nigerians pay more for food items

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Beans prices increase by over 270% as Nigerians pay more for food items, The NBS said this in its Selected Food Prices Watch report for August 2024 released in Abuja on Wednesday.
The report said that the average price of 1kg of brown beans increased by 271.55 per cent from ₦692.95 recorded in August 2023 to ₦2,574.63 in August 2024.
“On a month-on-month basis, 1kg of brown beans increased by 5.31 per cent in August from the ₦2,444.81 recorded in July 2024.”
It said that the average price of medium-sized Agric eggs (12 pieces) increased by 121.92 per cent on a year-on-year basis from ₦1,031.55 recorded in August 2023 to ₦2,289.19 in August 2024.

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“On a month-on-month basis, the eggs increased by 5.48 per cent from the ₦2,170.17 recorded in July 2024.”
The report said that the average price of sliced bread increased by 113.16 per cent on a year-on-year basis from N684.85 in August 2023 to ₦1,459.85 in August 2024.
“On a month-on-month basis, the price increased by 2.28 per cent from the ₦1,427.25 recorded in July 2024.”
In addition, the average price of 1kg of local rice rose by 148.41 per cent on a year-on-year basis from ₦737.11 recorded in August 2023 to ₦1,831.05 in August 2024
“On a month-on-month basis, it increased by 3.65 per cent from ₦1,766.64 recorded in July 2024.”
Also, the report said that the average price of 1kg of a tuber of yam increased by 188.31 per cent on a year-on-year basis from ₦576.39 in August 2023 to ₦1,661.80 in August 2024.
“However, on a month-on-month basis, the price decreased by -7.82 per cent from the ₦1,802.84 recorded in July 2024.”
The NBS said the average price of 1kg of tomato also increased on a year-on-year basis by 171.72 per cent from ₦554.37 recorded in August 2023 to ₦1,506.35 in August 2024.
“However, on a month-on-month basis, the average price of 1kg of tomato declined by 11.07 per cent from ₦1,693.83 in July 2024 to ₦1,506.35 in August .”
On state profile analysis, the report showed that in August 2024, the highest average price of 1kg of brown beans was recorded in Akwa Ibom at ₦3,276.79, while the lowest was recorded in Adamawa at ₦1,710.92.
It said that Niger recorded the highest average price of medium size Agric eggs (12 pieces) at ₦2,996.92, while the lowest was in Jigawa at ₦1,786.01.
The NBS said that the highest average price of sliced bread was recorded in Rivers at ₦1,850, while the lowest price was recorded in Yobe at ₦908.81.
According to the report, Kogi recorded the highest average price of 1kg local rice (sold loose) at ₦2,680.29, while the lowest was reported in Benue at ₦1,206.84.
The report said the highest price of 1kg of tomato was recorded in Abuja at ₦2,2206.31, while the lowest price was recorded in Kaduna at ₦734.94.
Analysis by zone showed that the average price of 1kg of brown beans was highest in the South-South at ₦3,165.11, followed by the North-Central at ₦2,900.86.
“The lowest price was recorded in the North-West at ₦1,982.78.”
The North-Central and South-East recorded the highest average price of medium-sized agricultural eggs(12 pieces) at ₦2,789.15 and ₦2,438.06, respectively, while the lowest price was in the North-West at ₦1,963.65.
The report said that the South-South recorded the highest average price of sliced bread at ₦1,785.56, followed by the South-East at ₦1,635.73, while the North-East recorded the lowest price at ₦1,163.78.
The NBS said also that the South-West and the South-South recorded the highest average price of 1kg of local rice (sold loose) at ₦1,960.87 and ₦1,886.32 respectively.
“The North-West recorded the lowest price of 1kg of local rice (sold loose) at N1,591.21.”
The News Agency of Nigeria (NAN) reports that in July, the Federal Government in a bid to address the incessant increase in food prices and ensure food security granted a 150-day duty-free import window for some food commodities.
The suspended duty tariffs and taxes will be on the importation of certain food items across the land and sea borders which include maize, cowpeas, wheat, and husked brown rice.
However, experts have suggested more sustainable measures such as addressing the issue of insecurity, foreign exchange and transportation costs to address the soaring food prices and ensure food security.
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Nigerian Breweries’ Sade Morgan named Corporate Affairs Director for Heineken Africa & Middle East

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11 hours agoon
April 28, 2025By
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Nigerian Breweries Plc- Nigeria’s foremost brewing company, has announced the appointment of Sade Morgan as the Corporate Affairs Director, for Heineken Africa & Middle East (AME) region. Her appointment takes effect on 1st May, 2025.
The appointment was conveyed in a statement signed by the Managing Director, Nigerian Breweries Plc, Hans Essaadi on Friday, April 4, 2025.
Morgan, who is currently Nigerian Breweries Corporate Affairs Director, has been elevated to a global role at Heineken, succeeding David Paterson and becoming the first regional national from AME region to hold this senior leadership role.
In this role, Morgan joins both the Heineken Global Corporate Affairs Leadership Team and the Heineken AME Management Team to continue to drive the Corporate Affairs strategy in advancing the growth agenda and protecting the reputation for HEINEKEN in AME.
Since joining NB Plc in 2018 as Corporate Affairs Director, she has led high-stakes regulatory and fiscal engagements in a dynamic operating environment, driving a robust optimal business climate agenda for the Nigerian business, mitigating significant excise tax increases and securing a more viable regulatory framework.
More recently, she played a key role in managing the temporary suspension of operations in select breweries in Nigeria, ensuring seamless stakeholder engagement and business continuity. Beyond her role in regulatory affairs, she has also provided strategic leadership in advancing Heineken’s Brew a Better World sustainability ambitions and goals in Nigeria.
Morgan was recently awarded the 2025 Outstanding Corporate Spokesperson of the year in the 2nd edition of the Nigerian National SpokesPersons Award, and Corporate Communications Professional of the year at the 2024 Lagos Public Relations Industry Gala and Awards.
Morgan is a highly accomplished corporate executive with a remarkable 27-year track record of driving business growth, managing risk, and leading high-performing teams across various industries, including fast-moving consumer goods, tobacco, and beverages. A lawyer, corporate affairs and communications professional, her impressive track record speaks for itself, with wide cross-geographical experience and a passion for building winning teams and empowering women.
Sade started her career as a lawyer in 1993 and has since worked with top Nigerian law firms and multinational companies honing her skills in resolving complex business issues across diverse sectors. In her current role as Corporate Affairs Director for Nigerian Breweries Plc, a position she has held since December 2018, Sade has been instrumental in shaping the company’s corporate governance, regulatory affairs, reputation management, and sustainability strategies.

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Her expertise spans legal, regulatory, and business leadership roles, having served as Legal, Public Affairs and Communications Director at Coca-Cola Hellenic Bottling Company as well as other various roles within the company including Executive Committee and Board member. She has also served as Legal Director and EEMEA Regulatory and Marketing Counsel for British American Tobacco’s global operations.
A distinguished alumnus of prestigious business schools IMD and INSEAD, Sade holds honors degrees in Law from Obafemi Awolowo University and the Nigerian Law School. She is a respected member of the Institute of Directors, the Nigerian Institute of Public Relations, and she pioneered the Food and Beverage Recycling Alliance (Nigeria) as its first Chairperson. Sade is happily married with 3 children to Seye Morgan, Managing Director/Chief Executive Officer, Rihago Auction Ltd.
Beyond her corporate achievements, Sade has played a pivotal advisory role in shaping public policy on business regulation and corporate governance in Nigeria. Her exceptional leadership and expertise have influenced decision-making in the consumer goods, beverages, and tobacco sectors, cementing her reputation as a champion of ethical practices and corporate responsibility within the private sector.
Prior to joining Heineken, she was the Legal, Public Affairs, and Communications Director at Nigerian Bottling Company, a subsidiary of Coca-Cola Hellenic Bottling Company, where she played a pivotal role in regulatory and stakeholder engagement, crisis management, and corporate reputation strategy.
Before then, she also held senior legal, corporate affairs and regulatory roles at British American Tobacco, including an international assignment in the UAE, where she sat on the Management Team supporting the Gulf Cooperation Council (GCC) countries. She also served as West Africa Area Legal Director, driving legal, policy advocacy and regulatory strategy across multiple markets, followed by a UK-based role where she had regulatory marketing oversight for the Africa, Middle East & Eastern Europe (AMEE) region. Prior to joining British American Tobacco, she worked in two of the most reputable commercial law firms in Nigeria- Adepetun, Caxton-Martins and Segun(ACAS) and Aluko & Oyebode.
Morgan is an alumna of executive management programs at IMD (Switzerland) and INSEAD (France) and an active member of professional organizations including the Institute of Directors and the Nigerian Institute of Public Relations. She was also the inaugural Chairperson of the Food and Beverage Recycling Alliance in Nigeria.
Her leadership and ability to navigate complex regulatory landscapes will be crucial in driving the Corporate Affairs agenda across the AME region.
About Nigerian Breweries PLC:
A member of the HEINEKEN Group, Nigerian Breweries Plc is Nigeria’s pioneer and largest brewing company. Incorporated in 1946 as "Nigerian Brewery Limited,” the company made history in June 1949 when the first bottle of STAR lager beer rolled out of its Lagos brewery bottling line. Today, it has a rich portfolio of 19 high-quality brands (Heineken, Desperados, Maltina, Life, Amstel Malta, Gulder, Fayrouz, and Legend) produced from nine breweries and two malting plants distributed nationwide.
Nigerian Breweries Plc is also the recipient of several awards and recognition in other areas of its operations, including product quality, marketing excellence, productivity and innovation, health and safety, corporate social responsibility, and sustainability.
To learn more, visit the Nigerian Breweries website: nbplc.com
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