In line with its commitment to give utmost priority to import substitution and grow the country’s agricultural sector value chain, Nigerian Breweries (NB) Plc, the foremost brewing company in Nigeria, has invested about $188 million (N78 billion) in sorghum and cassava cultivation over the last five years. Managing Director, NB, Mr. Hans Essaadi, disclosed this in Lagos recently as part of the activities in commemoration of the company’s 75th anniversary. Essaadi noted that this year alone, the company had spent a total of N20 billion on the sorghum value chain appropriated through direct purchase from commercial and smallholder farmers. He revealed that this considerable investment was necessitated by the increased demand for locally grown sorghum, stating that the company’s current sorghum requirement stands at 120,000 tonnes per annum.
“In the last five years, we have invested a total of about $188 million (N78 billion) in investigating and cultivating locally sourced raw materials with success obtained in sorghum, sorghum maltose syrup and cassava extracts,” he said. Essaadi stressed that it was gratifying to note that the investments in agribusiness have succeeded in creating economic prosperity for Nigeria, with at least 47,000 jobs created for commercial and smallholder farmers…
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