• Friday, March 29, 2024
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BusinessDay

We have confidence in Nigeria’s economy, says Guinness

Guinness stops importation of premium spirits to reduce FX exposure

Guinness Nigeria Plc is working to strengthen its investment in Nigeria and has no plans to exit Nigeria, contrary to the orchestrated false publication circulated by detractors, the company has said.

In a statement shared with BusinessDay, the brewer said it is committed to its investment in the country.

“Guinness Nigeria Plc’s attention was drawn to some false publications trending on some social media platforms alleging that the company was relocating out of Nigeria,” the company said in the statement.

“Contrary to the false information being circulated by detractors, we are renewed in our efforts to serve our revered consumers and create more job opportunities for Nigerians as seen in the new $5 million additional production line recently commissioned at our Brewery in Ogba, Lagos in October 2021. We are also pleased to state that we are on the verge of completing work on our new ultra-modern head office block located in Ikeja where we will be moving in the next few weeks.

Read also: Nigeria needs $30bn investment to meet domestic energy demand – NAPIMS

“Guinness Nigeria has confidence in the Nigerian economy and just as we have done for the past seventy-one years, we will remain a major player in the country by continually investing, developing capabilities, growing brands that best suit the consumers’ needs; and contributing positively to lives, communities and the environment.

The brewer recently announced to its shareholders the 266 percent performance growth in its operating profits over a six-months period to N13.6 billion in its half-year unaudited financial results ended December 2021.

“Guinness Nigeria subscribes to the highest standards of corporate governance and will continue to demonstrate the highest standards of integrity, and especially guarantee that our engagement with consumers, government agencies, suppliers, shareholders, and other stakeholders is driven by our values and principles.” the management stated.