Nigerian Breweries Paid N326 Billion in Taxes in the Last Five Years

Nigerian Breweries Plc revealed during the commissioning of its N5 billion ultramodern automated production line built in Ijebu Ode that the Federal Government has listed the company as one of the highest tax-paying companies in the country.

According to the brewing giant, it has paid N326 billion in tax and duty payments in the last five years.

Speaking at the launching of the new automated production line at Ijebu Ode in Ogun State, Chairman, NB Plc, Chief Kolawole Jamodu, said: “We have been listed as one of the highest tax-paying companies in Nigeria and the highest in the manufacturing industry, with tax and duty payment of approximately N326 billion over the last five years. We have paid over N1 billion in combined taxes of PAYE, levies and other duties to the Ogun State Government.”

Mr Jordi Borrut Bel, Managing Director/Chief Executive, NB, who also spoke at the commissioning said the PET line represents about N5 billion in direct investment.

“This PET line represents a direct investment of about N5 billion and it comes at a time when the effect of COVID-19 has made other businesses wary of making such huge capital investment.

“Despite this we remain confident and optimistic that the commissioning of today will give birth to certainty. And with the right decision and policies, companies such as ours would continue in providing refreshment for millions of men, women and children in Nigeria.

“This new PET line will increase our production capacity for non alcoholic drinks starting with Maltina and the newly introduced variance of Maltina Pineapple, Maltina Vanilla and other brands like Amstel and high malt,” he said.