Anheuser-Busch InBev (AB InBev) has said it expects its investment in the newly built Sagamu Brewery to hit $400 million.

The company’s Chief Executive Officer, Carlos Brito, disclosed this on Wednesday while responding to reporters’ questions at a media briefing in Johannesburg, South Africa.

He said that the $250 million brewery has already started operation and capacity will be expanded in phases, but did not provide a timeline for the next phase.

“Nigeria (is) becoming a more and more important market as we grow in that market,” he said.

“I mean we’re growing double digits, we didn’t grow in the past as fast because we were lacking capacity and now that we have capacity, strong brands and (a) great group of people we’re challenging the status quo there.”

AB InBev is the parent company of International Breweries Plc which has four breweries in Nigeria.