Stakeholders Laud Nigerian Breweries N56billion Investment In Ama Brewery Expansion

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Stakeholders Laud Nigerian Breweries N56billion Investment In Ama Brewery Expansion-marketingspace.com
Stakeholders Laud Nigerian Breweries N56billion Investment In Ama Brewery Expansion-marketingspace.com

Stakeholders including the Central Bank of Nigeria (CBN), Enugu State Government, and the Federal Ministry of Industry, Trade & Investment have commended Nigerian Breweries Plc for taking the bold decision to commence civil works on the expansion of Ama Brewery in Enugu, which is estimated to cost N56billion. The expansion project is expected to boost the brewing capacity from 2.7 million hectolitres to 4.8billion hectolitres in the first phase and up to 6 million hectolitres in the second phase.

Speaking at the commissioning ceremony held on Wednesday, April 27, 2022, the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, while praising the company for the expansion project, noted that the apex regulator would continue to come up with policies that would improve the non-oil sectors of the economy as a means of cushioning the impact of the global shock on the Nigerian economy.

Represented by the Director, Trade and Exchange, Dr. Ozoemena Nnaji, Emefiele urged the company to take advantage of the several intervention programs put in place by the Bank for further expansion projects, assuring that it remains committed to collaborating with the company in the collective quest to increase the contribution of the non-oil sector to Nigeria’s GDP.

Speaking at the commissioning ceremony, the Governor of Enugu State, Rt. Hon. Ifeanyi Ugwuanyi, who was represented by Secretary to the State Government, Prof. Simon Ortuanya, commended Nigerian Breweries Plc for taking the bold step to expand its current brewing capacity, which demonstrates its commitment to the Nigerian economy and Enugu State. According to Ugwuanyi, when completed, this project would enhance the industrial growth of Enugu and Nigeria while improving the company’s market share.

In his remarks, the Honourable Minister of Industry, Trade & Investment, Otunba Niyi Adebayo, who was represented by the Deputy Director, Industrial Department, Federal Ministry of Industry, Trade & Investment, Mrs. Olumuyiwa Ade-Ajayi, commended the management of the company for their foresight and determination in embarking on this massive project which would, no doubt, mark a significant milestone in local content achievement. She stated further that the company has, over the years, demonstrated immense capacity to support the government’s commitment towards local content, as can be seen in Nigeria’s economic transformation.

On his part, the Chief Executive Officer, HEINEKEN, Mr. Dolf van den Brink, stated that the investment in Ama Brewery is a further demonstration of the long-standing history and relationship between HEINEKEN and Nigeria, which dates back to 1946.

“Based on our longstanding role in the past and present, HEINEKEN is investing €112 Million in this important Ama Brewery Expansion project because we see ourselves as playing a major role in Nigeria’s future. We are proud to be part of the growth and development of this great state and country.”, he said.

The President of the Manufacturers Association of Nigeria, represented by the Director-General, Mr. Segun Ajayi-Kadir, lauded the company for its resourcefulness in kicking off the civil works for the expansion of Ama Brewery. According to Ajayi-Kadir, this bold move by the company demonstrates the strategic thinking of the board and management of the company and its firm belief in the boundless possibilities in the Nigerian market.

Also speaking during the commissioning, the Acting Executive Secretary and Chief Executive Officer, Nigeria Investment Promotion Commission (NIPC), Mr. Emeka Offor, commended the company for embarking on such a massive investment at a time when the world is experiencing economic shocks occasioned by the global COVID-19 pandemic, which is a sign of its resilience and determination to overcome the odds, with focus, innovation and good management.