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Investors count losses as restrictions, taxes slow breweries


• Gloomy 2021 outlook
• Jobs could be lost, experts warn
The brewery industry in Nigeria is reeling under pangs of poor consumer spending, induced by the devastating COVID-19 pandemic and recession. The situation has left investors counting and lamenting their losses.
The recession has caused the bottom line of the industry’s listed equities to remain subdued with gloomy 2021 outlook.
The Vice Chairman of High Cap Securities Limited, Imafidon Adonri, described the brewery industry as a creator of enormous wealth and probably the largest employer of production labour, following the collapse of the textile industry.
He, however, lamented that though the industry had been entrenched and contributing significantly to the nation’s GDP, its 2021 prospect is not bright, considering the second wave of COVID-19. ....

Imafidon Adonri , Baker Magunda , Amaechi Egbo , Moses Igbrude , Guinness Nigeria Plc , Highcap Securities , Independence Shareholders Association Of Nigeria , Diageo Plc , Nigerian Breweries , Champion Breweries Plc , International Breweries Plc , International Breweries , Guinness Nigeria , Vice Chairman , Highcap Securities Limited , Northern Nigeria , Friday January , Publicity Secretary , Independence Shareholders Association , Malta Guinness , கின்னஸ் நைஜீரியா ப்ல் , சுதந்திரம் பங்குதாரர்கள் சங்கம் ஆஃப் நைஜீரியா , தியகிேோ ப்ல் , நைஜீரியன் மதுபானம் , சாம்பியன் மதுபானம் ப்ல் , சர்வதேச மதுபானம் ப்ல் ,

Breaking News | Hospitality sector's revenue dips by nearly 90 per cent


•Investors task govt on incentives to enhance industry growth
The nearly one-year devastating effect of the COVID-19 crisis has continued to take huge toll on the hospitality sector, as the bottom-line of listed firms in the sector has remained vulnerable to the challenges of restrictions.
The most hit is the share price of these companies on the Nigerian Stock Exchange (NSE), which has remained stagnated at nominal value year to date following negative sentiments that have enveloped the demand of the stocks.
Apparently irked by the unprecedented loss incurred by the firms in the sector, especially in the current financial year, stock market investors at the weekend, stressed the need for government to support listed firms under the sector with incentives in form of tax holiday and other palliatives throughout the period of the pandemic. ....

Patrick Ajudua , Amaechi Egbo , Moses Igbrude , Nigerian Stock Exchange , Ikeja Hotel Plc , Tourist Company Of Nigeria , Ikeja Hotels , Transnational Corporation Of Nigeria Plc , Capital Hotels , Transcorp Hilton Hotel Plc , Shareholders Association Of Nigeria , Shareholders Association , Tourist Company , Transnational Corporation , Nigeria Plc , Hotel Plc , Publicity Secretary , Independent Shareholders Association , நைஜீரியன் ஸ்டாக் பரிமாற்றம் , சுற்றுலா நிறுவனம் ஆஃப் நைஜீரியா , நாடுகடந்த நிறுவனம் ஆஃப் நைஜீரியா ப்ல் , மூலதனம் ஹோட்டல் , டிரான்ஸ்கார்ப் ஹில்டன் ஹோட்டல் ப்ல் , பங்குதாரர்கள் சங்கம் ஆஃப் நைஜீரியா , பங்குதாரர்கள் சங்கம் , சுற்றுலா நிறுவனம் ,