Against the rumour gaining momentum that it is leaving the Nigerian market, Guinness Nigeria Plc has denied its exit from Nigeria. It reassured its long-term commitment to the country.
Founded in April 1950, Guinness Nigeria has a proud and eventful 74-year heritage embedded in the cultural and economic fabric of Nigeria. Guiness announces that its unwavering commitment to Nigeria is reflected in its significant investments in infrastructure, employment, backward integration, community development, and social responsibility initiatives. Moreover, the recent announcement of the partnership between Diageo and Tolaram Group further unequivocally confirms that Guinness Nigeria remains committed to Nigeria and has no intention of dynamically exiting the Nigerian market. It confirms its operations remain strong, and this new partnership will not negatively impact jobs or factories.
Moving on, it states that the announced partnership, Tolaram Group, will acquire a 58.02% majority stake in Guinness Nigeria, which will allow us, the company, to leverage and capitalise on Tolaram Group’s extensive manufacturing and distribution expertise. It is important that Guinness Nigeria maintains its position as a listed company on the Nigerian Stock Exchange and maintains its best position in the Nigerian beverage industry. The establishment of Diageo’s 100% owned international premium spirits business in Nigeria is also a significant testament to its continued commitment to operating in West and Central Africa, with Nigeria as a key centre of operations.
The Guinness Company has stated that it will still be committed to the growth and development of the Nigerian market with innovative products.
