Abeokuta — The Federal Government yesterday promised to provide conducive environment for improved raw materials sourcing in the country.
President Muhammadu Buhari said his administration would continue to seek ways to develop the nation's abundant raw materials to conserve foreign exchange and diversify the economic revenue base.
Buhari, represented by the Secretary to the Government of the Federation (SGF), Boss Mustapha, at the official commissioning of International Breweries Plc Gateway Plant in Sagamu area of Ogun State, described the company's investment as part of his administration's call for increased Foreign Direct Investments (FDIs) into the country.
He, however, charged local and foreign investors to take advantage of the government's Economic Recovery Growth Plan (ERGP) and Ease of Doing Business (EODB) to invest in the country.
"Nigeria is ready for business and the market is expansive for Return on Investment (ROI)," he said.
He commended the management of International Breweries Plc, saying that the investment would stimulate the economy thereby giving a boost to the nation's agricultural sector by enhancing existing partnership with local farmers in the country to produce 30 tonnes of sorghum.
Ogun State Governor, Senator Ibikunle Amosun, who spoke earlier, assured the firm of the state's continued support to boost industrialisation in the state and the country at large.
He also called on investors to leverage the state's competitive and comparative advantage, adding that the state is a strategic location in West Africa for driving industrialisation.
"The establishment of this factory is not a misplaced priority. Our industrial master-plan has witnessed transformational changes that would also go a long way to significantly benefit this factory. We are not relenting on our efforts to make Ogun State a haven for both local and foreign investments," he said.
Managing Director, International Breweries Plc, Mrs. Annabelle Degroot, said the Gateway brewery would allow the country to offer more choice to its consumers and provide a more reliable supply of products to its valuable distributors.
She pointed out that the commitment of N90 billion ($250 million) to build the brewery demonstrates its confidence in the future prospects for Nigeria and the company's determination to invest and to be a partner in the economy for the long-term.
"This plant is the biggest and most modern brewery in Nigeria. The brewery will be our fourth one in Nigeria and will partner with our existing three breweries in Onitsha, Ilesha and Port Harcourt. All the four breweries will continue to be equally important to the future growth of our company," she said.