Nigerian Breweries Investments Hit N243 Billion

By November 29, 2016 Investment News

Nigerian Breweries (NB) Plc has invested N243 billion in the nation’s economy the company’s newsletter the News Agency of Nigeria reported yesterday.

It said the N243 billion amounted to 0.65 per cent of the nation’s Gross Domestic Product (GDP), saying NB has contributed positively to the economic and social development of the country by investing in the expansion of breweries in Lagos, Aba, Enugu, Kaduna and Ota.

It said over N175 billion had been invested by NB in developing world-class brewery facilities in the past five years in Nigeria.

The newsletter said that as at 2013, NB represented 12 per cent of Nigerian manufacturing output, equivalent to 0.23 per cent of the GDP.

It said the NB was currently sustaining over 500,000 jobs across the country.

The newsletter also listed these areas to include: health, education, sports, water and community development, among other areas, it had provided employment.

It said that NB had, as well empowered many Nigerians in other areas such as  Creative Writers’ Workshop, National Arts Competition, Maltina Dance All and Golden Pen Award.

The newsletter said that NB Plc was driven by a corporate philosophy of wining with Nigeria since incorporation in 1946 and the production of Star Larger Beer from Lagos Brewery in 1949.

Source: <Nigeria Today>