PML, ITC Collaborate on Cigarette Manufacturing in Nigeria

  • PML, ITC Collaborate on Cigarette Manufacturing in Nigeria

Philip Morris Limited, the Nigerian affiliate of Philip Morris International, has partnered the International Tobacco Company Limited to manufacture one of PMI’s tobacco brands in the country.

A statement said that under the agreement, PML would invest in technology and capacity building at ITC’s factory, adding that the initiative would create employment opportunities and contribute positively to the national economy.

Speaking at the ITC factory in Ilorin, Kwara State, the Managing Director, PML, Coskun Kagan Dicle, said, “We strongly believe that investing in local manufacturing is the right thing for the future as it contributes to the Federal Government’s efforts to strengthen the economy and reduce the dependence on oil.

“It will also benefit all parties. Our consumers will have their preferred brands readily available at the highest quality standards, our partners will enjoy improved capacity utilisation of their facilities, and the local community will benefit from the micro-economy boost and new employment opportunities.

“We are here to provide a choice to those consumers who choose to continue to smoke and we are here to make a positive contribution to the Nigerian economy for the long term.”

Dicle added that the start of local manufacturing was just the beginning of the various planned investments by PML in the country, while restating its commitment to corporate social responsibility.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya

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