F oremost brewer International Breweries has inaugurated its N90 billion world-class plant in Sagamu, Ogun State.
The plant promises to create 600 direct and over 2000 indirect jobs along the value chain.
President Muhammadu Buhari, who inaugurated the plant yesterday, restated the government’s commitment to securing the business environment so that foreign direct investment (FDI) could flow into the country.
Represented on the occasion by Secretary to Government of the Federation, Boss Mustapha, the president said the government is committed to developing the country through investment in infrastructure.
He urged more international firms to invest in the country and explore the various opportunities inherent in the policies of government which are specifically targeted at creating a friendly business operating environment.
Commending the brewer for its enormous investment, Buhari said it is the sixth largest listed company on the Nigerian Stock Exchange (NSE) with N275 billion market capitalisation.
He said the impact of the brewery would cut across various sectors of the economy, ranging from agriculture, manufacturing to haulage services and also boost activities in the Small and Medium Enterprises (SMEs) sector.
Also speaking, the state governor, Sen Ibikunle Amosun said the commissioning of the plant bore eloquent testimony to the existence of a conducive business ecosystem in the state. This he said has made it the new industrial capital of the country.
He urged the firm to leverage the comparative advantages in the state and focus on backward integration and import substitution to grow the firm’s profitability and the nation’s economy.
The Global CEO, AB InBev, Carlos Brito, said the inauguration of the plant indicates its interest and commitment to the growth of the country, adding that the company has supported locals through job creation.
He said: “We have improved the livelihood of farmers and retailers, we have infused local and foreign cultures and technologies to drive sustainable socio-economic growth. For centuries, the experience of sharing a beer has brought people and cultures together. To brew the highest quality beers, we need a sustainable environment and thriving communities. Sustainability is not just related to our business, it is our business and our people are at the heart of our business.”The Managing Director, International Breweries Plc, Annabelle Degroot, said the brewery would be instrumental to empowering farmers and local manufacturers, as most of the raw materials required would be sourced locally. This will in turn, contribute to the overall economic development of the country.Degroot said the plant christened ‘Gateway Plant,’ […]