1-Nestle Nigeria to triple sales to $2.2 bln over 10 yrs

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* To invest around 10 bln naira per year

* Investment to help sales grow

* Shares up over 30 pct this year (Adds detail)

By Chijioke Ohuocha

LAGOS, Feb 22 (Reuters) - Nestle Nigeria aims to triple its sales in Africa's most populous nation to 350 billion naira ($2.2 bln) in 10 years as the consumer market for food and cereal booms.

The local unit of Swiss company Nestle SA, the world's biggest food group, will invest 100 billion naira ($635 mln) over the same period to achieve its sales target, chief financial officer Martin Kruegel told Reuters on Friday.

Nigeria Signs Power-Company Sales Pacts With Siemens, Transcorp

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Nigeria signed deals for the sale of 15 state power companies to buyers including Siemens AG (SIE), Korea Electric Power Corp. (KEP) and Transnational Corp. of Nigeria Plc, the West African nation’s privatization agency said.

The buyers now have 15 days to pay 25 percent of the amounts they bid, the Abuja-based Bureau of Public Enterprises said today in an e-mailed statement. The Nigerian government sold 10 power distributors and five generation companies in September and October. Full payment is due within 90 days.