Business
Seven-Up Bottling Announces Leadership Transition
Seven-Up Bottling Company Ltd. (SBC), one of Nigeria’s leading beverage manufacturers, today announced a strategic leadership transition as managing director, Ziad Maalouf, retires after nearly 18 years of remarkable service.
Sari El-Khalil, a current SBC Board Member and chief transformation officer, will assume the role of managing director, effective July 1, 2025.
During Ziad’s tenure, SBC experienced a period of significant growth and transformation, from redefining its go-to-market strategy and expanding its manufacturing capacity, to launching new product lines, including Aquafina, Lipton Ice Tea, and Supa Komando, and pioneering sustainability efforts across Nigeria.
His leadership was instrumental in positioning SBC as a national force for innovation, operational excellence, and environmental stewardship.
Speaking on his retirement, Ziad Maalouf said: “It has been the privilege of a lifetime to lead SBC through such a transformative period.
I’m proud of what we’ve built, especially the culture of innovation, discipline, and shared purpose. I leave knowing the company is in capable hands and look forward to continuing my work and mission of supporting Nigerian businesses through SME Scale Up.”Nigerian art and craft sales
The company’s incoming managing director, Sari El-Khalil, brings a strong mix of global experience and local insight. Sari spent his childhood years in Nigeria, where he completed his primary education before moving abroad. Sari began his career at the company and has held multiple roles across sales, operations, and finance. After completing his MBA at NYU Stern and gaining international experience with PepsiCo USA, Sari returned to Nigeria in 2020 as Head of Financial Planning and Analysis where he spearheaded digitisation and automation efforts. He later became SBC’s first Chief Transformation Officer, leading a comprehensive transformation that reinforced SBC’s readiness for the future and positioned the company to thrive further in the years ahead.
Commenting on his new role, Sari said: “Building on the strong foundation laid by the company’s founders, as well as Ziad and the team, I am committed to driving innovation, operational excellence, and sustainable growth, guided by our people-first ethos. Together, we will continue to shape the future of our industry and make a positive impact across Nigeria. As we look to the future, we carry forward the same ambition, the same values, and the same mission that has defined SBC for decades.
The Board of SBC expressed its full confidence in the transition. “Sari’s appointment reflects both continuity and new momentum,” said Faysal El-Khalil, Chairman of the Board. “His global perspective and hands-on leadership within SBC make him uniquely equipped to guide us into this next phase. At the same time, we extend our deepest gratitude to Ziad Maalouf for nearly two decades of visionary leadership.”
This transition affirms SBC’s long-term commitment to growth, resilience, and national development, anchored in values that endure and leadership that evolves with purpose. As one chapter closes and another begins, SBC remains committed to its mission to serve, inspire, and lead.
Leadership.ng
The Nigerian currency, Naira (₦), continued its battle against the United States dollar at the official foreign exchange market on Saturday.
Daily Voice reports that data from the Central Bank of Nigeria (CBN) showed that the local currency sold at ₦1,321.2160/1$ on Sunday.
The latest rate is the same as Saturday’s rate of ₦1,321.2160/1$.
At the parallel market (black market), however, the naira closed on Sunday at ₦1,400 to the dollar.
The offers by commercial banks, Bureau de Change (BDC) operators, and other foreign exchange dealers may, however, differ from the reference rates due to transaction margins and prevailing demand and supply conditions.
Market participants will continue to monitor foreign exchange inflows, demand for dollars, and CBN policies for indications of whether the naira can sustain its gains through the month.
Cement prices in Nigeria remain elevated, with a 50kg bag selling for between ₦12,000 and ₦15,000 in many markets, putting further pressure on builders, contractors and Nigerians planning construction projects.
The latest market data shows that although some brands are currently available below the ₦15,000 mark, the industry remains significantly more expensive than it was at the end of 2025 and early 2026.
Recent market quotations show the following indicative prices for a 50kg bag:
Note: prices may vary by location and transportation costs.
These figures are based on a September 1 market report and can vary depending on location, transportation costs, dealer margins and supply conditions.
However, July industry data painted a more expensive picture. CementNet reported retail prices of ₦12,000 to ₦15,000, with Dangote selling for about ₦13,000–₦15,000, BUA at ₦12,000–₦14,500, and HBM Nigeria, formerly Lafarge Africa, at ₦12,000–₦13,500.
The latest figures suggest that cement prices may have eased from the highest quotations seen earlier in the year, but the broader trend remains upward.
In July, The Guardian reported that a 50kg bag typically sold for ₦12,500–₦15,000 across major markets including Lagos, Abuja and Abia.
The Federal Competition and Consumer Protection Commission (FCCPC) also reported that prices had reached between ₦13,000 and ₦15,000 in some locations during the first half of 2026.
This means the current ₦12,000–₦14,000 quotations for several major brands should be viewed as some market-level moderation rather than a broad collapse in cement prices.
Why cement remains high
High energy and transportation costs continue to weigh heavily on the industry. Cement manufacturing requires significant amounts of energy, while moving cement from factories and depots to retail markets adds further costs.
Location is also playing an important role. Buyers in areas farther from production centres can pay substantially more because of haulage and distribution expenses.
The situation is particularly significant because Nigeria has substantial cement production capacity, yet retail prices remain high. The Guardian reported that domestic production exceeds consumption, with surplus output exported to neighbouring countries.
Nigerian civil servants on Grade Level 8 now earn between N1,479,276 and N1,914,514 annually, depending on their step within the scale, following the new minimum wage signed under President Bola Tinubu’s administration.
The figures fall under the Consolidated Public Service Salary Structure (CONPSS), the framework that governs pay across Nigeria’s federal civil service.
CONPSS covers 17 grade levels in total, and a worker’s position within each level is shaped by their qualifications, length of service, and performance record.
Grade Level 8 has 14 steps, with each step representing a progression in earnings. Below is the full breakdown:
The gap between the lowest and highest steps at this level amounts to N435,238, reflecting how significantly length of service can affect take-home pay within a single grade.
Interest in the salary structure has grown since Tinubu’s government approved a new national minimum wage, which triggered a review of earnings across the public sector. Civil servants and job seekers have been keenly examining each grade level to understand what the adjusted structure means in practical terms.
Workers at Grade Level 8 are typically mid-level employees with some years of experience in the civil service. Their earnings sit above the entry-level grades but below the senior cadre, making this level a reference point for many who are planning career progression within the federal workforce.
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