Impact of Nigerian Brewery on Nigerian Economy Essay

Nigerian Breweries ( NB ) Plc seems to rule the brewery market as it accounts for 60 per cent of the brewery market portion in Nigeria. Pull offing Director/CEO. Nigerian Breweries Plc. Mr. Michiel Herkemij disclosed this to Vanguard shortly after the pre 63rd Annual General Meeting ( AGM ) held in Lagos last hebdomad.

He stated that NB is seeking to construct long term capableness for its people in order to prolong its market leading in the state. Harmonizing to him. “ The part of Nigerian Breweries Plc ( NB Plc ) to the overall consequence of Heineken should be about less than 10 per centum ( 10 % ) . I think it is just to state that any company worldwide that is lending to the consequences of Heineken is lending less than 10 % of the entire consequence. ”

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He said “ We have come to remain in Nigeria. We are non puting here in vena as we continue to upgrade our breweries. In the country of Corporate Social Responsibility ( CSR ) Nigerian Breweries is non missing. The undertakings executed in twelvemonth 2008 were all monolithic. the sum of financess involved is really immense ; nevertheless. we may non unwrap the exact per centum of turnover spent on CSR ; but relative to other companies in this state. we are a function theoretical account in our CSR activities and would go on to be so in old ages in front. In the CSR we focus non merely on the boreholes that you see. but we besides focus on instruction. There is an Education Trust Fund ( ETF ) that we operate ; where on a annual footing entirely there is N100 million really thrown back to the society. ”

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While noticing on the impact of the planetary fiscal crisis on the company. Herkemij said “ Cipher can deny that there is a meltdown and a planetary recession really traveling on. even including us in Nigerian Breweries. We would non deny that. You can besides see there is an impact of this in Nigeria. The country’s oil gross from the Federal Government ( FG ) continue to drop. At local and province degree. you see undertakings enduring. he Naira besides has depreciated and these have impacted on a batch of companies ; particularly those 1s that are to the full dependent on imported stuffs for production. they are enduring large clip. You see involvement rates traveling up in the state astronomically about 22 % to 23 % which is worrying. ”

To this extent. the NB foreman noted that there is a recession traveling on and Nigeria like any other state is experiencing the impact now. “One thing that we think. which we have seen over the old ages within Africa is that Africa is more resilient. better and equipped in covering with crisis ;

in this state there are non so many people that are really populating above their criterions ; because it is a despairing society. when you go to Europe. or to America everybody has immense loans chance and you might borrow three times more than your salary. ow imagine when this drops you are in large problem. But in this state. there is nil like that ; people are used to pass merely what they have. ” He added.

So with this scenario you can see that we are non wholly affected because people demand what they can pay for. ” he added. Nigerian Breweries Plc. the innovator and largest brewing company in Nigeria was incorporated in 1946 and recorded a landmark when the first bottle of Star Lager Beer rolled off the bottling lines in Lagos Brewery in June 1946.

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