With a market capitalization over N275 billion, International Breweries Plc, the sixth largest listed company in Nigeria last week deepened its investment position in the country by opening a N90 billion plant in Ogun, the country’s gateway state.
This decision attracted the commendation of Muhammadu Buhari, the country’s president who was pleased with the impacts the plant will have across various sectors of the economy such as agriculture, manufacturing, haulage services and also boost activities with the Small and Medium Enterprises.
The president, represented by Boss Mustapha, Secretary to Government of the Federation, said that “this investment is a result of this administration’s drive to increase the foreign direct investment in the country. It also goes a long way to show your strong believe
Adding that the administration was also committed to business development through improved investment in infrastructure for businesses to thrive, the president urged International Breweries and other companies to maximize take advantage of the opportunity and the promises of government on the ease of doing business.
The president further encouraged international companies to invest more in Nigeria and explore the various opportunities and policies of government targeted at easing the nation’s investment clime, assuring investors that Nigeria is ready for business and the market is expansive for quicker and bigger returns on investment.
Praising Ogun State for creating the right environment for businesses to take off and expand in Nigeria the president said the state is fast snatching the enterprise capital from Lagos State with the provision of key infrastructural facilities necessary for industrialization.
“This is a shining example that if other states emulate, Nigeria will be greater for it,” he said.
Ibikunle Amosun, the governor of Ogun State also expressed his pleasure at the sighting of the plant in Sagamu, saying that it would boost the state’s economy.
Amosun said the state would continue to create an enabling environment that would attract investment, boost employment and economic growth.
In her address, Annabelle Degroot, managing director, International Breweries Plc, said: “As we grow and expand, so does our responsibility to be a force for good in the communities we operate in and to ensure we build a sustainable business for the next 100 years.”
Describing the brewery, christened Gateway Plant, as a major step towards the company’s strategic goal of becoming a leading beverage manufacturer in Nigeria, Degroot stated that “As a company, we are committed to brewing quality beers that consumers love, using the highest quality ingredients and bringing centuries of brewing heritage. We combine innovation and state of the art techniques to continue to meet consumer needs and brew high-quality beer.”
Degroot added that the brewery would provide a significant opportunity to increase direct employment with quality jobs at the brewery site, while thousands of indirect jobs would be created along its value chain.
“International Breweries Plc is a proud part of the AB InBev family, the world’s largest brewer. The company is extremely proud of its portfolio of beers including – Trophy Lager, Hero Lager, Castle Lite Lager, Eagle Lager, Eagle Stout and the recently launched global brand, Budweiser. The company also focuses on no alcohol malts including Grand Malt and Betamalt,” she said.