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Federal government reassures investors of infrastructure development

The Nigerian government has restated its commitment to business development through improved investment in infrastructure.

President Muhammadu Buhari gave the reassurance at the inauguration of the 250 million dollars plant of International Breweries Plc, in Sagamu, Ogun State.

Buhari said his administration was also focused on creating enabling business environment across the country.

He called on international companies to invest more in Nigeria to explore the various opportunities and policies geared towards making investment in the country profitable.

On her part, the Managing Director, International Breweries Plc, Annabelle Degroot said that the plant christened “Gateway Plant’’ was a major step of the company’s strategic goal towards becoming a leading beverage manufacturer in Nigeria.

“We combine innovation and state-of-the-art techniques to continue to meet consumer needs and brew high quality beer.“Our commitment of N90 billion to build this world-class brewery demonstrates our confidence in the future prospects for Nigeria.

“It is also part of our determination to invest and be a partner in the economy for the long term,” she said.

Degroot said the plant will also have multiplier effects on various sectors of the economy

She said “The brewery will also be instrumental to empowering farmers and local manufacturers, as most of the raw materials required will be sourced locally.“It will in turn contribute to the economic development of the country’’.

She however called on government to work with the company to create an enabling tax environment that will allow growth and lead to more investment.

About the Plant:

The brewery is owned by International Breweries Plc, a subsidiary of Belgian Brewer, AB InBev which is the sixth largest listed company on the Nigerian Stock Exchange.

The Sagamu plant is so far the company’s largest plant within the group in Africa, outside South Africa.

It is the company’s fourth brewery in Nigeria and would partner with existing ones in Onitsha, Ilesa and Port-Harcourt to foster economic growth .

The plant is expected to create 600 direct jobs and about 2000 indirect jobs along the value chain.

Credit: Voice of Nigeria

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