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NB pays FG N326bn in taxes, inaugurates N5bn new line

In its drive to boost Nigeria’s revenue generation profile, the Board of Nigerian Breweries Plc., has disclosed that it paid about N326 billion in taxes to the Federal Government’s coffer in the last five years.

The board also said that it spent about N5 billion in investments in the installation of new ultra-modern automated Polyethylene Terephthalate (PET) line at its Ijebu-Ode Brewery plant meant to produce 24,000 bottles of non-alcoholic drinks per hour to boost nation’s manufacturing productivity. Making these known during the official commissioning of the new ultra- modern automated PET line of Nigerian Breweries Plc., Ijebu-Ode Brewery in Ijebu-Ode, Ogun State, the Chairman, Nigerian Breweries Plc., Chief Kola Jamodu, said the company was listed as one of the highest tax-paying companies in the country and the highest in the manufacturing industry. Jamodu said: “We are committed to play our role in supporting the government as a responsible corporate citizen.

“We have been listed as one of the highest tax-paying companies in Nigeria and the highest in the manufacturing industry, with tax and duty payments of approximately N326 billion over the last five years. “In Ogun State, we have paid over N1 billion in combined taxes of PAYE, levies and other duties to the Ogun State government.” Also, the Managing Director and Chief Executive Officer (CEO), Nigerian Breweries Plc., Jordi Borrut, said the company had been operating in Nigeria for over 70 years and still hoped to do more in the years to come. He said the PET line represented an investment of over N5 billion, stressing that it came at a time of great uncertainty, where the threat of COVID- 19 had made many businesses wary of making such huge capital investments. Borrut said: “Despite this, we remain confident and optimistic that the uncertainty of today will give way to certainty, and that the right decisions and policies, companies such as ours will continue to have a home in Nigeria, providing refreshment and happiness to millions of men, women and children through our beer, malt and soft drinks.”

 

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