Nigerian Breweries spent over N10billion capital investment in 2020

Nigeria’s foremost brewer, Nigerian Breweries Plc spent over N36 billion in capital investment into its operations across the country during 2020 financial year. The Managing Director, Jordi Borrut Bel disclosed this during the Pre-Annual General Meeting Media Briefing of the company held in Lagos on Wednesday, April 7, 2021.

Bel stated that the investments include the construction of a PET lineinaugurated at Ijebu Ode Plant, the Ibadan Brewery Solar Power project among others. He affirmed that Nigerian Breweries Plc remains a great believer in the Nigerian economy and would continue to play its part by investing to create more employment opportunities and contribute to the nation’s economic growth.

“2020 financial year was a remarkable one for us as it afforded us the opportunity to invest heavily and position for growth. It was a year we invested in a new PET Line for non-alcoholic drinks at our Ijebu Ode Plant. In the same year, we embarked on some other important projects which boosted the capacities of our business”, he said

Bel further explained that the huge investment on its business operations amidst the impact of COVID-19 pandemic clearly demonstrates the company’s determination to stay afloat and remain strong in the interest of all its stakeholders.

“Though the outbreak of COVID-19 adversely affected the global economy and impacted businesses negatively, our company was able to weather the storm and stay afloat in the face of the challenge. This could not have been possible without our resolve as a business to invest in our operations which contributed to the improved performance witnessed across our products portfolio” he added

In terms of Corporate Social Responsibility (CSR), Bel also stated that the company contributed immensely to communities and the country at large – donating N600 million to the Federal and some state governments, as part of efforts to support the fight against COVID-19, while also continuing its social investments in the areas of education, health, access to potable water, environment, youth and women empowerment in different parts of the country,

He assured stakeholders that the company remains committed to not only keeping its balance sheet strong but ensuring that the health, safety and welfare of its employees, customers and partners are protected.