NIGERIAN Breweries Plc has reaffirmed commitment towards future investments in the country as the foremost brewer marks its 75th year in the country.
Speaking at the media parley to commemorate the 75th Anniversary of the brewer held in Lagos, the newly appointed Managing Director and Chief Executive Officer, NB Plc, Hans Essaadi, revealed that the company intends to invest significantly in capacity extension to meet its objectives as well as demands in the market.
“We have grown with Nigeria and it is clear that moving forward, we will continue to invest significantly in capacity extension to meet our objectives as well as demands in the market. We should expect much of these extensions in the East and Northern part of the country and our majority shareholder. Heineken is committed to this and this is good as it will bring direct and indirect job opportunities for Nigerians”, Essaadi said.
Earlier in his opening remarks, Essaadi appreciated the company’s stakeholders, noting that with the support from its excellent staff, committed shareholders and stakeholders, the brewer is fully energized to delight Nigerians for another 75 years.
During a presentation, Corporate Affairs Director, Sade Morgan, disclosed that the company has attained about 56 per cent in local sourcing of raw materials and has injected $114 million in capital investments and expansion projects in its bid to build a resilient economy.
This is even as the brewing company disclosed that about N98 billion has been invested in cultivating locally sourced materials as well as sorghum and cassava value chain through commercial purchase and smallholder farming in the last five years.
Morgan said despite the pandemic in 2020, the brewing company kept to its strategy of delivering satisfaction and growth in 2021 and added that the Nigerian economy has remained resilient and still remains an exceptional market with the right fundamentals for growth.
She noted that the company had embarked on local sourcing of raw materials while revealing that its target is not yet 100 per cent.
“We have done about 56 per cent in local material sourcing but our packaging material is at 100 per cent but the challenge with the raw material is the availability locally of the ingredients that goes into making most of our products”.
According to her, “NB Plc in its bid to build a resilient economy through sustainable capital investments have injected about $114 million in capital investments and expansion projects scheduled for 2021/2022 in Ama (Enugu) brewery and has prioritized import substitution and accretion for foreign reserve with N78 billion in investing and cultivating locally sourced materials in the last five years and N20 billion in sorghum value in 2021 through commercial purchase and smallholder farming”.
Speaking on the anniversary, Morgan explained that the celebration will be year-long, with arrays of activities earmarked with the unveiling of the anniversary logo at the media parley.
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