Guinness Nigeria Plc has revealed plans to cease the importation and sale of Diageo international premium spirit products, including Johnnie Walker, Baileys, Singleton.
The decision is attributed to Diageo Plc's intent to establish a new, wholly owned spirits-focused business.

The development is expected to exert some influence on Guinness that generated N14 billion, representing 6% of the company's total revenues from imported Diageo international premium spirit products.
Guinness Nigeria Plc has revealed plans to cease the importation and sale of international premium spirit products, including Johnnie Walker, Baileys, Singleton, and others, under its 2016 sale and distribution agreement with Diageo Plc by April 2024.


Devil's Pool, Livingstone, Zambia
Lifestyle Top 10 tourist attractions in Africa, according to Americans
Bujumbura-Burundi
Lifestyle Despite significant inflation, the IMF is optimistic about Burundi's economic recovery
Top 5 Reasons the PHANTOM V Flip 5G Should Be Your Next Device
Lifestyle Top 5 reasons the Phantom V Flip 5G should be your next device
The is contained in the company's statement to the Nigerian Exchange Limited (NGX) on Thursday.

Per the statement, the decision is attributed to Diageo Plc's intent to establish a new, wholly owned spirits-focused business to manage the importation and distribution of its international spirits portfolio in Nigeria as well as West and Central Africa.

“Guinness Nigeria today announces that, with effect from April 2024, it will no longer import or distribute certain Diageo international premium spirits products, including Johnnie Walker, Singleton, and Baileys and others imported under its 2016 Sale & Distribution Agreement with Diageo plc,” the statement read.


The development is expected to exert some influence on the company, as for the fiscal year ending on June 30, 2023, the revenue associated with Guinness Nigeria's imported Diageo international premium spirit products amounted to N14 billion, representing 6% of the company's total revenues.

However, Guinness Nigeria said it will continue to manufacture and distribute its full portfolio of non-alcoholic drinks, beer, ready-to-drink (RTDs) and locally produced spirits, including inter-alia Orijin, Captain Morgan Gold, Gordon’s Moringa, and Smirnoff X1 Choco, fully utilising its asset base following the expansion of its production capacity in recent years as a foremost total beverage alcohol player.

Also, there will be no changes to Diageo plc’s shareholding in Guinness Nigeria, and Diageo remains a key shareholder of Guinness Nigeria.

According to Guinness Nigeria, the new development will position it to focus on its core business and its strength in the manufacturing, marketing and distribution of non-alcoholic drinks, beer, RTDs and its locally produced spirits, thus enhancing sustainability, growth, and value creation for all stakeholders of Guinness Nigeria.

“The change will enable the full utilisation of Guinness Nigeria’s asset base and will accelerate innovation in local spirits products,” it said.



The company also expects a decrease in its foreign exchange needs, which will help offset the adverse effects of enduring foreign exchange scarcity and fluctuations in exchange rates on its financial performance.

Phantom V Flip is truly a great device that one has to possess