December 8, 2021

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NB boosts job creation with N78bn investment in raw materials

Nigerian Breweries Plc

Nigerian Breweries Plc

Nigerian Breweries Plc (NB) invests N78 billion in cultivation of raw materials in the country in past five years to boost job creation.

By Chinyere Joel-Nwokeoma

Nigerian Breweries Plc (NB) has invested N78 billion in the cultivation of raw materials in the country in the past five years to boost job creation.

NB’s Corporate Affairs Director, Mrs Sade Morgan, said this at a media parley in commemoration of the company’s 75th anniversary in Lagos.

Morgan said the company had invested N78 billion in cultivating locally sourced materials as well as sorghum and cassava value chain through commercial purchase and smallholder farming in the last five years.

She noted that the company had prioritised import substitution and accretion for foreign reserve with the N78 billion in investing and cultivating locally sourced materials.

Morgan added that the company invested N20 billion in sorghum value in 2021 through commercial purchase and smallholder farming.

She said the company had attained about 56 per cent in local sourcing of raw materials and 100 per cent backward integration in packaging.

“We have done about 56 per cent in local material sourcing but our packaging material is at 100 per cent; the challenge with the raw material is the availability of ingredients that go into making most of our products.

“So, that is an area where we will continue to pioneer as we did with sorghum with backward integration and investing to realise in Nigeria the products needed essentially for our products.

“But for now we want to be able to satisfy our consumers and give them the same quality of beer that they can get anywhere in the world,” Morgan said.

According to her, the company has injected 114 million dollars in capital investments and expansion projects in Ama Brewery to build a resilient economy.

Also speaking, the newly appointed Managing Director, NB, Mr Hans Essaadi, revealed that the company intended to invest significantly in capacity extension to meet its objectives and rising 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 parts 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.

Also speaking, the Chairman, Mr Kolawole Jamodu, said it was not an easy journey to be in existence for 75 years.

Jamodu attributed the company’s secrets to hard working staff with strong loyathy to NB.

The chairman added that investors, customers, shareholders as well as their international partners had supported the growth of the company in the past 75 years.

He said stakeholders should look out for more enticing surprises from the company in the years ahead. (NAN) (www.nannews.ng)