Beta Glass injects over N1trn into Nigeria’s economy in decade – Report

…Posts N37.54bn revenue in Q1

Beta Glass Plc has contributed more than N1 trillion to Nigeria’s economy over the past decade, with the company accounting for nearly one percent of the country’s manufacturing sector output during the period, according to an independent socio-economic impact assessment by Deloitte.

The findings were highlighted at the company’s 52nd Annual General Meeting (AGM), held in Lagos, where shareholders, institutional investors and regulators reviewed the glass manufacturer’s financial performance, approved a dividend, and endorsed a new board following changes in the company’s ownership structure.

According to the report, Beta Glass’ activities also accounted for about 14% of the country’s non-metallic products sub-sector, reflecting the company’s role to industrial production and domestic value creation.

The company, which describes itself as West and Central Africa’s leading glass packaging manufacturer, also reported continued business momentum in the first quarter of 2026.

Read also: Beta Glass grows FY’25 profit by 144%

Its unaudited financial statements for the three months ended March 31, 2026, showed revenue of N37.54 billion, which the company attributed to strong operational performance and efficient utilisation of its production assets despite a challenging operating environment.

Commenting on the company’s performance, Williams Adebayo stated, “We are pleased with the dividend of N7.20 kobo declared and the decision to retain 51% of the earnings to support the company’s future growth. We also commend Beta Glass for its youth skills empowerment initiatives. These

efforts give us confidence that the company’s future is very bright.”

An outcome of the AGM was the reconstitution of the company’s Board of Directors, with shareholders approving the appointment of four non-executive directors drawn from the investment, manufacturing, finance and logistics sectors.

The new appointees are Nitin Kaul, a private equity executive with experience in Pan-African investment strategies; Olusola Carrena, a corporate finance and capital markets expert; Bolaji Olatunbosun Osunsanya, a senior executive with experience in energy and infrastructure; and Boye Olusanya, an industrial executive leading one of West Africa’s largest food and agro-allied manufacturing companies.

Vitus Ezinwa, chairman of the Board, noted that the newly reconstituted Board positions Beta Glass to accelerate sustainable growth, strengthen shareholder value, and enhance the resilience of its regional supply chains amid an evolving global business landscape.

Alex Gendis Chief Executive Officer, reaffirmed that the results achieved during the year demonstrate the resilience of the business and ability to adapt to changing market conditions. “We will continue to focus on

operational excellence, innovation, and disciplined execution as we position the Company for sustainable growth, underpinned by our commitment to building and sustaining strong strategic partnerships with our customers,” he said.

Beta Glass, further announced plans to accelerate measurable climate actions and integrate more innovative solutions into its core manufacturing framework.

Among its ongoing projects is the upgrade of the DF1 container glass furnace at its Ughelli manufacturing plant in Delta State. The furnace, which has a melting capacity of about 250 tonnes of glass per day, is being modernised to improve thermal efficiency, reduce emissions and support cleaner industrial production.