AB InBev forecasts Nigerian brewery investment to hit $400 million

AB Inbev

The world’s largest brewer, Anheuser-Busch InBev, AB InBev, said it’s investment on its Nigerian brewery will reach $400 million.

In a statement given to journalists in Johannesburg, AB InBev’s global CEO, Carlos Brito said:

“Nigeria (is) becoming a more and more important market as we grow in that market,” he said.

“I mean we’re growing double digits, we didn’t grow in the past as fast because we were lacking capacity and now that we have capacity, strong brands and (a) great group of people we’re challenging the status quo there.”

The company disclosed last year that it’s Nigerian factory located in Sagamu, Ogun state Southwest Nigeria cost the company $250 million.

AB InBev is the third largest brewer in Africa’s largest economy amongst Heineken’s Nigerian Breweries and Diageo’s local unit, Guinness Nigeria Plc.

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