NB Plc shares suffer loss in market value by N23.99bn
NB Plc commits €112m to Ama Brewery Expansion in Enugu
Nigeria’s largest brewing company, Nigerian Breweries (NB) Plc, has announced an additional investment of €112million to expand the largest of its nine breweries in the country, Ama brewery in Enugu State.
Speaking at the civil works commissioning ceremony yesterday, Chairman NB Plc, Chief Kola Jamodu stated that the company embarked on a major capacity expansion and structural upgrade of its facilities in Ama from 3 million hectolitres to 4.8 million hectolitres in the first instance and to 5.3 million hectolitres in the second phase.
Commenting on the development, Ag. Executive Secretary/CEO, Nigerian Investment Promotion Commission (NIPC) Mr Emeka Offor accompanied by Deputy Director, Investor Relations, Mrs Wange Dia and the Commission’s Southeast Zonal Head, Mr Eric Ugochukwu Ani assured of NIPC’s support and collaboration.
“Unquestionably, this project could not have come at a better time, Mr Offor said.
“With the new Nigerian economic blueprint – National Development Plan which identified private sector investment as a panacea for economic development, the expansion of this factory is a bold step for a robust private sector response to Nigeria’s industrial aspiration and development.”
“NIPC is particularly thrilled that this feat is coming after the economic shocks experienced and occasioned by the global Covid 2019 pandemic.
“Nigerian Breweries has demonstrated resilience and reinforced the hope that with focus, innovation and good management, we can always overcome the odds.
“We commend the Nigerian Breweries Plc and assure you that NIPC is here for you,” Mr Offor said.
