AB InBev to Increase Investment in Nigerian Brewery to $400m
The Chief Executive Officer, Anheuser-Busch InBev, a multinational drink and brewing Holdings Company, Carlos Brito on Wednesday says it expects the total investment in its new brewery at Sagamu in Nigeria to be up to $400 million.
According to Reuters, Brito said the $250 million brewery, which had already started operation, would be expanded in phases.
“Nigeria is becoming a more and more important market as we grow in that market,” he was quoted as saying. 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.”
The brewery, which was unveiled last year, is the company’s fourth in Nigeria after those located in Ilesa, Onitsha, and Port Harcourt.
At the inauguration of the facility, the Managing Director of the company, Annabelle Degroot, said the brewery would create 600 direct jobs and well over 2,000 indirect jobs along its value chain.
“While direct employment is very important to us, the impact of the multiplier effect that our breweries and business has on the economy cannot be over emphasised. Yearly, we buy over 30,000 tonnes of sorghum and maize and other raw materials locally. This will be significantly increased with the coming on stream of this new brewery,” Degroot said.