President Buhari to commissioning newly built US$250m Sagamu brewery

International Breweries sets August 28th for commissioning of newly built Sagamu brewery
August 22, 2018International Breweries Plc (“IB plc”), the Nigerian unit of Anheuser-Busch InBev has announced Tuesday, August 28 as the date it will commission its newly built brewery.

The new brewery which was constructed at a cost of US$250 million will be commissioned by Nigeria’s President, Muhammadu Buhari.

According to the company, the new facility which is located at KM 3, Flowergate Industrial Scheme, Sagamu-Abeokuta Expressway, Ogun State will be AB InBev’s second largest brewery in Africa, behind one it owns in South Africa.

Speaking on the commissioning, the Managing Director, IB Plc, Annabelle Degroot, described the plant as a major step towards the company’s strategic goal of producing high quality drinks locally.

She added that the plant will provide a great opportunity to engage qualified locals who are excited about the prospects of forging a career with the brand, while thousands of both direct and indirect jobs would be created.

“International Breweries Plc is a brand that places a premium on quality. Bearing this in mind, we will spare no expense or effort in ensuring that Nigerians are treated to the best traditions in brewing, with outstanding recipes, superior ingredients, innovation and world class techniques. The outcome is to ensure satisfaction and enjoyment for our consumers.

Also commenting on the planned commissioning, the Plant Manager for the Sagamu brewery, Tony Agah, said: “This [new brewery] will have a significant multiplier impact on the value chain within Ogun State and its environs.

It will provide direct and indirect employment, locally manufacture global brands and support Nigeria’s foreign direct investment aspiration,” he said.

He noted that the first phase of the development of the plant had been completed with over 300 Nigerians already employed.

He added that given the importance of this event, the President of Nigeria, Muhammadu Buhari will perform the inauguration of the facility. Others expected at the event include the Governor of the host state, Senator Ibikunle Amosun, the global CEO of AB InBev, Mr. Carlos Brito, the Minister of Commerce and Industry, Okechukwu Enelamah, the Minister of Budget and Planning, Senator Udo Udoma and the President of the Nigerian Stock Exchange, Oscar Onyema, among others.

The Belgium-based brewer said on Thursday it expected revenue and core profit (EBITDA) to grow strongly again in 2018, with revenue per hectoliter rising by more than inflation and costs by less.

The brewer, Ricardo Tadeu told Reuters, had achieved savings of $381 million from its near $100 billion purchase of rival SABMiller, which boosted in presence across Africa, which includes some of the world’s fastest growing economies.

 

The Caption Photo: The Nigeria President, Muhammadu Buhari

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