Business
Sosa Fruit Drink and Rite Sausages Thrill 60 Consumers with Movie Hangout and Freebies
Sixty lucky fans of premium Sosa Fruit Drink and delicious Rite Sausages, owned by Rite Foods Limited, were treated to an exhilarating movie experience on Saturday, February 24th, 2024. These consumers, selected from an online Valentine’s Day engagement, enjoyed the romantic comedy “All’s Fair in Love” at the Silverbird Cinema in Ikeja City Mall.
The winners, along with their companions, received valuable gift items and expressed their gratitude to the award-winning brands for creating a memorable and refreshing afternoon. They savoured the variety of Sosa Fruit Drink flavours (Orange, Apple, Orange Passion Mango, Mixed Berries, and Cranberry) in both 35cl and 1-liter packs, alongside the popular Rite Spicy Beef and Bigi Beef Sausage Roll that have become consumers’ favourite.
“This event was an innovative way to show our appreciation for our loyal customers and celebrate the spirit of Valentine’s Day,” said Ms. Adebola Adeyinka, Assistant Marketing Manager, Rite Foods Limited. “We are committed to providing value and opportunities for our customers, and this event was a fun way to do just that.”
The free movie outing reinforces Rite Foods’ commitment to its core mission of putting consumers at the heart of everything they do. The company’s dedication to quality and value is evident in the numerous awards their products have received, including the “Outstanding New Product of the Year – Juice” award for Sosa Fruit Drink in 2023 and the “Best Value for Money – Sausage Brand” award for Rite Foods’ Sausage Roll in 2023.
Tinubu Niger Delta summit opens in Port Harcourt as investors and policymakers gather to drive investment, innovation and industrial growth
Dangote Petroleum Refinery has set its initial public offering price at ₦525 per share, with the company seeking to raise about ₦2.15 trillion as it prepares to enter Nigeria’s public equities market.
The Securities and Exchange Commission has approved the offer for 4.1 billion ordinary shares at ₦525 each. If fully subscribed, the offer would generate approximately ₦2.15 trillion, equivalent to about $1.6 billion at current exchange rates.
The offering is expected to open on 14 September 2026, according to Aliko Dangote, the president of Dangote Industries. The planned sale is positioned to become one of the largest equity offerings in Africa.
The IPO marks a significant step in Dangote Group’s plans to broaden ownership of the refinery and raise additional capital for expansion.
The refinery currently has a stated processing capacity of 650,000 barrels of crude oil per day. Dangote has said the company plans to increase that capacity to 1.4 million barrels per day as part of its longer-term expansion strategy.
The planned share sale follows a $1 billion underwriting programme completed in August, providing additional financial backing ahead of the public offering.
The refinery, located in the Lekki area of Lagos State, is one of Africa’s largest industrial projects and has become an increasingly important player in Nigeria’s fuel supply market since beginning operations.
The public offering will give Nigerian investors an opportunity to acquire shares in the refinery directly, while providing Dangote Petroleum Refinery with fresh capital to support its next phase of growth.
The company has also indicated ambitions to expand beyond its current Nigerian operations, with Dangote recently announcing plans for another refinery project in Kenya.
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