Ministry of industry, trade and investment assures continued support amid economic challenges

LAGOS, Nigeria – The Ministry of Industry, Trade and Investment today has reaffirmed its commitment to support Nigerian Breweries and the broader business community through current economic difficulties, ensuring an environment where industries can continue to thrive.

In a significant meeting with Nigerian Breweries, the Ministry, led by the Honourable Minister, Dr. Doris Uzoka-Anite, addressed the recent temporary suspension of operations at two plants and discussed the company’s comprehensive Business Recovery Plan. The meeting also acknowledged the challenges faced by the communities in Awo-Omamma in Imo State and Kakuri in Kaduna State due to these suspensions.

The MD/CEO of Nigerian Breweries, Hans Essaadi, stated, “We have existed for almost 78 years and have weathered many storms in the past. We believe our Business Recovery Plan will ensure that we exist for another 78 years.” The Minister praised the resolve and adaptability of Nigerian Breweries and assured continued engagement to assist in their recovery efforts.

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Dr. Uzoka-Anite expressed the administration’s commitment to sustaining industry and manufacturing and emphasized initiatives such as the Consumer Credit Scheme to boost purchasing power, sector-specific interventions in power and agriculture to reduce production costs, and ongoing dialogue for financial reporting with the Financial Reporting Council.

The Minister assured stakeholders, “The administration of His Excellency President Bola Ahmed Tinubu, GCFR, is dedicated to creating a stable and conducive business environment. Rest assured, things will keep getting better.”

The Ministry and Nigerian Breweries have pledged to maintain an open dialogue to address the needs of the sector and ensure robust economic health for the nation.