Home Corporate News Capital Projects/Local Content: NB Plc Injects N55b, N78b

Capital Projects/Local Content: NB Plc Injects N55b, N78b

Nigerian Breweries Plc
Nigerian Breweries Plc

Nigerian Breweries Plc (NB) has pledged to remain focused in meeting consumer needs even as the giant brewery invests N55 billion in capital projects and N78 billion in local raw materials.

Disclosing this recently in a media parley to commemorate the brewery’s 75th anniversary which commenced at the weekend, Mrs. Shade Morgan, the company’s Corporate Affairs Director said that the N55 billion capital investments and expansion projects is aimed at wealth creation for the economy.

This is even as she recalled that the company had injected N78 billion in the cultivation of local raw materials in addition to sorghum and cassava value chains 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 realize in Nigeria the products needed essentially for our products,” noted Mrs. Morgan.

“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.

Speaking on how the company has remained unbeatable and relevant in the Nigerian beer sub-sector of the economy, Sade Morgan, Corporate Affairs Director, NB Plc, averred that the giant brewer has maintained its pride of place in the mind of consumers, across generations, through timeless innovation, brand relevance and consistent strategy.

“One word we can use to describe Nigerian Breweries, I would say is timeless; and timeless in the sense that it talks to how we have been able to keep up for ages right from where Nigeria was coming from and where Nigeria is going to. We have continued to stay relevant, relatable and connected to our consumers, shareholders and that is really the timeless essence of everything that we do.”

According to her, the company has injected $114million 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.

Meanwhile, NB Plc Chairman, Chief 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 loyalty 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.

The leading brewing company also formally unveiled its 75th anniversary logo as part of activities to mark the epoch event.

The activities to mark the 75 years anniversary of the pioneer Nigerian beer company include consumer activation, sponsorships, celebrity activities from November and beyond, media campaigns, TV interviews, press ads, social media campaigns, commemorative 75th anniversary label on Star beer bottle, launch of new NB website, among others.

In a related development, the NB Plc has empowered about 441 women and youth on skill acquisition across five key locations in Nigeria.

The successful beneficiaries were trained in 20 skill areas that include confectionery (baking), cosmetology, hairdressing, solar panel installation, cell phone repairs, barbing, fashion design, marketing, block molding among others. The number of beneficiaries for each of the locations is 65 for Lagos, 100 for Abuja, 126 for Kaduna, 75 for Ibadan and 75 for Imo state.

Also speaking, the representative of Minister of State for Federal Capital Territory, Mrs. Chiwendu Amba, while commending Nigerian Breweries Plc for their thoughtfulness in catering for the need of widows and vulnerable in the society explained that the empowerment will not only bring succor to the beneficiaries but also help to optimize their business values and enhance their potential for jobs creation.

Also speaking, the Commissioner for Wealth Creation and Employment, Lagos, Mrs. Yetunde Arobieke stated that the training of youth and women by Nigerian Breweries Plc is the right step in the right direction as this would help to tackle the rising rate of unemployment in Nigeria.

One of the beneficiaries, Elizabeth Afunlehin who spoke at the event lauded the company for coming up with an initiative that addresses unemployment saying that she is indeed excited and proud to have benefited from it.

The event was well attended by NB senior management staff and guests in all the various locations.

Credit: thenationonlineng.net

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