Ogun Confirms Localisation of 311 firms as $250m Brewery Plant nears Completion

By May 21, 2018 Investment News

Bimbo Ashiru, Ogun state commissioner for commerce and industry, says a total of 311 manufacturing plants have either set up or expanded factories in the last seven years in the state, stating that Ogun has attracted huge foreign direct investments running into several billions of dollars.

Ashiru said that apart from expected new investments in petro-chemical, oil and gas, manufacturing, agriculture, food and beverage, mining, pharmaceuticals, technology, among others amounting to $5.4 billion as being tracked by Nigeria Investment Promotion Commission, a number of manufacturing industries would inaugurate factories in few months.

Speaking at 2018 Retreat of Ministry of Commerce and Industry in Abeokuta on Friday, Ashiru noted that the Ibikunle Amosun-led administration had been working day and night to sustain huge influx of industries into the state through provision of needed infrastructure, security and incentives needed for smooth running of manufacturing activities.

The commissioner noted that members of staff in the ministry and the entire State Civil Service had been motivated against bureaucratic bottlenecks impeding the smooth influx of investments as well as investors into the state. He disclosed that the first phase of multi billion dollars Belgian-Brazilian Breweries – AB InBev- would soon open its plant along Abeokuta-Sagamu expressway.

BusinessDay reports that the multi billion dollars breweries located within a newly developed industrial estate – Sagamu Interchange- which hosts Nestle, Olam, Apples and Pears, Eterna Oil, among others , will be the biggest breweries in the country when completed, as the plant is a merger of International Breweries, Pabod Breweries and Interfact Breweries.

Stellar Sawyer, spokesperson of the brewery plant, in a phone interview with BusinessDay, disclosed that the plant was already test- running ahead of proposed inauguration by President Muhammadu Buhari sometime in July or August this year, saying the brand was expected to hit Nigeria and West African markets by the storm. Sawyer said the brewery was prepared to offer entirely new beverage experience.

Earlier, Jonathan Onajobi, permanent secretary, Ministry of Commerce and Industry, had reeled out statistics of manufacturing companies newly created or expanded in the last seven years in manufacturing, agriculture, oil and gas, petrochemical, pharmaceuticals, food and beverage, among other industries.

He said that 30 of such firms came to the State in 2011; 38 in 2012; 42 firms in 2013 and 37 in 2014 and there was a slight upsurge in 2015 as 51 companies were inaugurated; 42 firms in 2016 and 61 were established in 2107, adding that Ogun state had so far recorded 10 new firms as of March 2018.

Source: Business Day