Business
Coca-Cola Loses ‘$4bn’ Market Value After Cristiano Ronaldo’s Gesture
Cristiano Ronaldo, Portuguese football star, removed two Coca-Cola bottles from his table during a press conference at the Euros 2020.
The gesture coincided with a $4 billion price fall in the value of the drinks giant.
After removing the carbonated drink, Ronaldo held up a bottle of water before saying “Agua” (water) in a gesture to encourage people to choose the latter instead.
Ronaldo raising a bottle of water instead
Coca-Cola, one of the official sponsors of Euro 2020, share price declined from $56.10 to $55.22 (a 1.6 percent dip) almost immediately after Ronaldo’s act, while the market value of the soft drink giant went from $242 billion to $238 billion (a decrease of $4 billion).
Responding to the Portuguese professional footballer act, Coca-Cola in a statement on Tuesday, said everyone is entitled to their drink preferences” with different “tastes and needs”.
Also a Euros spokesperson said: “Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences”.
Ronaldo’s action may be tied to his sponsorship agreement with Pepsi who is Coca Cola’s main rival, however, it can also be linked to his strict health diet as his known to dislike sugary foods, including soft drinks.
In 2020, he said: “We’ll have to wait and see if my son becomes a great player. At times he eats crisps and drinks fizzy drinks and he knows that makes me angry, but I guess that’s normal behaviour for a ten-year-old boy”.
Recently, Ronaldo also said: “I’m tough with my son. Sometimes he drinks Coca Cola and Fanta, he eats crisps and he knows I don’t like it”.
Moruf Oseni, managing director/CEO, Wema Bank, says the lender is committed to continued service and value delivery to Nigerians beyond its 80th anniversary.
Wema Bank, one of Nigeria’s oldest indigenous institutions, is set to mark 80th anniversary on May 2, 2025.
Founded on May 2nd, 1945, as Agbonmagbe Bank Limited by Late Matthew Adekoya Okupe, and two others, the bank was established to bridge the gap in access to financial services for indigenous Nigerians during the colonial era.
Over the years, Wema Bank has built a legacy of impact, empowering Nigerians with quality financial services tailored to their needs and supporting the Fintech industry to innovate to remain valuable to customers and stakeholders.
Oseni, speaking on the journey of the bank so far, expressed commitment to continued delivery of optimum value to stakeholders beyond the anniversary.
According to him, Wema Bank’s founding principle of empowerment and its creed to “be with you all the way” speak to resilience, timelessness, and perpetuity.
“At Wema Bank, we have our creed, which is to be with you all the way. Anything that has the creed to be with you all the way simply means it is something that is built to last. Wema Bank rose against all odds in colonial Nigeria to cater to indigenous Nigerians and succeeded.
“Today, we are not just Nigeria’s oldest indigenous bank but also Nigeria’s leading innovative bank, a testament to how committed we are to reinventing and adapting to provide value. On this, we will never relent,” Oseni noted.
The Nigerian National Petroleum Company (NNPC) Limited has reduced its premium motor spirit price in Abuja.
Some motorists in Abuja confirmed the new fuel price adjustment at some NNPC retail outlets.
Reports quoted Abdullahi Hashim, a resident of Kubwa, Abuja, to have said: “I observed the drop in the fuel price to N935 per litre on Saturday morning. It is a welcome development.”
“I think I first saw this new price adjustment in Town, Wuse Zone 4 area, on Friday. NNPC filling station at Kubwa Expressway is just reflecting it,” Bukola Adewole also said.
The development comes after Dangote Refinery announced in its ex-depot petrol price to N835 per litre from N865.
The 650,000 barrels per day refinery had announced that its partners, such as MRS and AP filling stations, are expected to sell petrol between N890 and N920 per litre, depending on the location.
Meanwhile, MRS filling stations in Abuja have not been dispensing petrol since Wednesday, April 16, 2025, when Dangote Refinery announced a slash in ex-depot petrol price.
Technology and digital solutions services provider, Globacom, on Tuesday opened a retail shop in Ogbomoso, Oyo State. The opening of the retail shop is meant to bring Glo products and services closer to the people of the area.
Speaking at the event, Mr. Ikechukwu Onuekwusi, Globacom’s Retail Sales Chief for Oyo Division, stated that the commissioning of the retail and customer service shop was in keeping with Globacom’s goal of expanding its platforms to enable customers access its extensive array of products and services.
Said he: “As you are aware, our approach to customer service is underpinned by innovation and total inclusiveness. This is why we are consistently seeking innovative channels to make available our array of services to them”.
He disclosed that the newly commissioned facility also stocks high-end and reasonably priced devices, smartphones, and other accessories. He also assured customers in and around Ogbomoso of quick and satisfactory resolutions of all issues ranging from SIM replacement and registration to recovery of over-scratched cards, refilling, unblocking of phones and laptop configurations for internet services, among other services.
Globacom promised that courteous, well-trained, and customer-friendly staff have been deployed to the new shop to offer first-rate services and handle client complaints in addition to meeting their needs for products and services.
Honorable Timothy Oyedokun, the Chairman of Ogbomoso South Local Government, praised Globacom for always providing Nigerians with various forms of relief. He also commended Globacom for being a proud Nigerian company.
“Since I have known Globacom, it has not changed in its resolve to serve the people of this nation. This shows that the management holds the wellbeing of the people in high esteem”, he noted.
Equally, Mrs. Olufunke Olaniyi, the Local Government Secretary, Ogbomoso North Local Government, who spoke on behalf of the Chairman, Hon. George Gbadegesin Ogunlade, noted that the Glo “network belongs to us, so I want to encourage all sons and daughters to patronize Globacom”.
