Nigerian Breweries Inaugurates N11bn Plant

• Nigerian Breweries Inaugurates N11bn Ota Plant

Former President Olusegun Obasanjo and Ogun State Governor, Ibukunle Amosun, on Wednesday inaugurated the new plant of the Nigerian Breweries Plc in Ota.

According to the brewer, the upgrade of the Ota plant costs N11bn.

The Ota brewery was acquired by the Heineken Group in 2011 from Sona Breweries Limited, makers of Life Beer and other brands. It was later sold to NB Plc the same year.

Obasanjo, who was represented by Chief Abraham Akanle, commended the management of NB Plc for reposing confidence in the Nigerian economy by making such a huge investment.

“This has given us the assurance that efforts from the Nigerian government and all well-meaning individuals at revamping the economy and attracting foreign investors are yielding the desired results,” he stated.

Obasanjo urged government at the national and state levels to adopt certain policies and strategies to improve the investment climate, reduce the cost of doing business in Nigeria and enhance capacity utilisation by industries.

He said, “There must be commitment and undeterred efforts to revamp the economy through massive inflow of foreign investments. We cannot afford to fail in our collective efforts to industrialise the country.

“Indeed, I recognise the importance of the private sector as the engine of economic growth. That is why I am pleased with the efforts of the NB Plc in raising the tempo of economic activities with this investment in the Ota brewery.”

In his remarks, Amosun said the project was a response to his call for cooperation, participation and support from genuine individuals and corporate bodies for the improvement of all sectors of the economy.

“This project will facilitate the attainment of a self-reliant and self-sustaining economy. By this, you have shown that you are not just a partner in progress, but a dependable ally in the realisation of our five cardinal programmes for the people of our state,” the governor said.