Nestle Nigeria Plc on Thursday opened its new Milo Ready-to-drink (RTD) factory in Agbara Industrial Area, Ogun State.

The new factory is said to have cost N4.1bn.

The Vice President of Nigeria, Yemi Osinbajo commissioned the new plant which is part of the company’s existing factory at Agbara for the past 37 years.

The VP urged other multinational corporations to domicile their factories in Nigeria as the country remained the preferred destination for investment in Africa.

“We are grateful to Nestlé for these significant investments, particularly for locating its factories in rural communities and sourcing its raw materials from local farmers, contributing to the sustainable development of Nigeria,’’ he said.

He added that the Federal government was committed to creating an enabling environment for businesses to thrive and actualizing the objectives of its Economic Recovery Growth Plan (ERGP) of the government.

Osinbajo said that government would facilitate private sector growth and sustainable development through increased investment in infrastructure.

“This new plant is a reflection of the continued confidence the industry has in the robustness of our economy,’’ said Osinbajo.

The Managing Director of Nestle Nigeria Plc, Mr. Mauricio Alarcon, said that “the new Nestle Milo RTD is complementing the existing range of offerings of our iconic Milo brand.

“It is conveniently packaged to offer the unique Milo taste and meet the nutrition needs of active children on the go. This is in line with the company’s commitments to enable healthier and happier lives,’’ he said.

The new plant produces Nestle Milo RTD in 180ml cartons and has a yearly production capacity above 8,000 tonnes. Milo RTD was launched in October 2017 and is made from natural goodness of milk, malt and cocoa.

Nestle has been present in Nigeria since 1961 and has a staff strength of over 2,300 direct employees, three manufacturing sites and eight branch offices.

Nestle also produces other brands such as Maggi, Golden Morn, Nescafe Coffee and Nestle Pure Life bottled water.

More Pictures from the commissioning of Nestle Milo RTD plant