BusinessDay

Guinness Nigeria consolidates capacity expansion plans

Guinness Nigeria Plc has announced plans to expand its operations and production capacity in Lagos, over the next few months.

Following the unanimous approval of its Board and in furtherance of the strategic plan the business has been implementing over the last few years, Guinness Nigeria Plc, the country’s foremost Total Beverage Company has now completed the acquisition of 25 acres of commercial property in the Ogba industrial area of Lagos.

Reaffirming the company’s overarching strategy and expansion plans, Managing Director, Guinness Nigeria Plc., Baker Magunda, described the investment as a reflection of its belief in the Nigerian economy and ongoing commitment towards the development of Africa’s most populous nation.

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“This bold acquisition comes with an ambitious investment plan of expanding our production capacity and operations in Nigeria. We remain steadfast in our commitment to Nigeria’s growth and development while enhancing our shareholders value in the long term. It is also part of our strategy to optimize our production assets and thereby ensure improved operational efficiency leading to greater value for our shareholders,” Magunda said.

In addition to the over 180,000 jobs it currently supports, directly and indirectly, the MD of Guinness Nigeria said with the capacity expansion, the company is increasing its capacity to meet the growing demand for its products while creating more opportunities for Nigerians.

According to the company, Guinness Nigeria, with the support of Diageo PLC, its parent company, has consistently made investments for the long-term success and growth of its business in Nigeria, especially in strategic capacity expansion projects.

“About 10 years ago, Diageo invested over N52 billion in capacity expansion, the single largest investment of Diageo in any single market anywhere in the world,” the Corporate Relations Director and Company Secretary of Guinness Nigeria, Rotimi Odusola, said.

Just two years ago, Odusola said the company invested another N2 billion in its ‘Grow with Nigeria’ programme, supporting over 27,000 farmers in our supply chain and enhancing their means of livelihood.

“We remain committed to the development of communities where we live and operate. Our investment in capacity expansion at a time when the harsh economic reality is forcing many companies to divest or consider divesting from Nigeria shows our unwavering commitment to the long-term viability of this country. We will continue to invest in the Nigerian economy and will ensure consistent delivery of great quality products and socio-economic benefits to our revered consumers, esteemed shareholders, host communities and public” he added.