…pays N326bn as tax, duty in 5 years

By Providence Adeyinka

ECONOMY

Nigerian Breweries, NB Plc, has commissioned a N5 billion ultramodern automated production line for manufacturing of pet plastic bottles for its products at its Ijebu Ode Brewery, Ogun State.

Meanwhile, the brewing giant said it has been listed as one of the highest tax paying companies in Nigeria with tax and duty payments amounting to N326 billion made over the last five years.

Speaking at the official commissioning of the new facility, Managing Director/Chief Executive, NB, Mr Jordi Borrut Bel, said that the PET line represents a direct investment of about N5 billion.

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Borrut Bel explained that the automated PET line is expected to produce 24 thousand units per hour and designed with the latest technology with world class safety and quality standard.

He stated: “This is something we have done for over 74 years and we hope to continue to do that in the years to come.

“This PET line represents a direct investment of about N5 billion and it comes at a time when the effect of COVID-19 has made other businesses wary of making such huge capital investment.

“Despite this we remain confident and optimistic that the commissioning of today will give birth to certainty. And with the right decision and policies, companies such as ours would continue in providing refreshment for millions of men, women and children in Nigeria.

“This new PET line will increase our production capacity for non alcoholic drinks starting with Maltina and the newly introduced variance of Maltina Pineapple, Maltina Vanilla and other brands like Amstel and high malt,” he said.

Earlier in his welcome remark, Chairman, NB Plc, Chief Kolawole Jamodu, said: “We are committed to continuing 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 payment of approximately N326 billion over the last five years. We have paid over N1 billion in combined taxes of PAYE, levies and other duties to the Ogun State Government.”

Vanguard News Nigeria