Business
Trademark Infringement: NBC, Rite Foods Suit Resumes September 22
A Federal High Court in Lagos on Monday, July 12, adjourned till September 22, proceedings in the suit between Nigerian Bottling Company (NBC) Ltd and Rite Foods Ltd.
In suit No: FHC/L/CS/92/2021, the plaintiff, Rite Food Limited, filed a motion ex parte of an interim injunction against the defendant, NBC, restraining it from further promoting or using any sales promotion material for its Predator energy drink in a manner that infringes or passes off or that is capable of infringing or passing off the plaintiff’s Fearless energy drink until the interlocutory application for an injunction is determined.
Rite Foods claimed through its counsel Mr. Muyiwa Ogungbenro, that Predator’s lion insignia bears a striking resemblance to the Fearless.
But NBC denied any claim of trademark violation or passing off with its Predator Energy drink vowing to contest the case vigorously in court.
It has also prayed the court to set aside an ex-parte injunction obtained by Rite Foods Ltd against the continued promotion of the Predator Energy drink in the Nigerian market.
It further asked the court to dismiss Rite Foods’ committal application brought against NBC’s Managing Director, Mr. Matthieu Seguin, for alleged disobedience to the interim order.
The suit, formerly before Justice Chukwujeku Aneke, is now before Justice Lewis Allagoa.
NBC’s counsel Mark Mordi had told Justice Aneke that Rite Foods’ applications were brought malafide and were without merit as the suit lacked a firm ground to stand in law.
He contended that the Predator logo had been in existence and in use in many markets outside of Nigeria even prior to the launch of Fearless by Rite Foods in the Nigerian market.
When the matter came up before Justice Allagoa, he fixed the September 22 date for the hearing of preliminary applications in the suit.
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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