NB says it has invested N243bn in Nigerian economy

Nigerian Breweries Plc, the country’s leading brewer said it has invested N243bn in the Nigerian economy. This was contained in a newsletter made available to the News Agency of Nigeria (NAN) in Abuja last Monday.

The company further stated that the amount translates to 0.65% of the country’s Gross Domestic Product (GDP).

The brewer known for some its iconic brands – Star Lager, Gulder, among others said that it has contributed positively to the economic and social development of the country by investing in expansion of its breweries in Lagos, Aba, Enugu, Kaduna and Ota.

It noted that over N175bn had been spent in the last five years upgrading its breweries to world-class standards.

NB stressed that as of 2013, its business activities represented 12% of Nigeria’s manufacturing output, equivalent to 0.23% of the GDP.

It noted that the company was currently sustaining over 500,000 jobs in the country.

It listed areas that it is aiding to include: health, education, sports, water and community development, among other areas it had provided employment.

In addition, the company said that its Corporate Social Responsibility (CSR) support has empowered many Nigerians in other areas such as Creative Writing Workshop, National Arts Competition, Maltina Dance All and Golden Pen Awards.

The brewer said that it was driven by a corporate philosophy of winning with Nigeria since incorporation in 1946 and the production of its first beer – Star Larger in its Lagos Brewery in 1949. Since then it has progressed from a single brewery and brand to 11 breweries and 20 iconic brands spanning the country.

As Nigeria‘s pioneer and leading brewing company, we have an unwavering commitment to the growth of Nigeria by identifying and consistently supporting the development aspirations of our various host communities,” the newsletter said.

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