Osinbajo Launches N4.1bn Beverage Plant, Seeks Foreign Investments

Vice President Yemi Osinbajo has called on multinational companies to help in job opportunities creation for Nigerians by sufficiently investing in the country.

The Vice President on Thursday made the appeal  in Agbara, Ogun State, while inaugurating Nestle Nigeria’s Milo Ready-to-Drink beverage production plant, costing N4.1bn.

The new plant is part of the existing Agbara factory of Nestle Nigeria, which has been in existence for 37 years.

Osinbajo said that if companies make sufficient investments in the country, “such investments can create millions of jobs in 2018 and reduce the crime rate in the country.”

He added, “I urge other manufacturing firms to emulate Nestle and domicile their investment opportunities in Nigeria as that is the only way they can help the Federal Government achieve its effective growth in job creation.

“The new plant, I believe, is a significant step not just for Nestle, but for the Ogun State Government. This will keep the economy on sustainable growth. It will bring about reforms and the ease of doing business.”

According to him, the new Nestle plant is a reflection of the continued confidence the industry has in the robustness of the Nigerian economy.

“It will create 150,000 direct jobs in addition to local sourcing. We are grateful to Nestlé for these significant investments, particularly for locating its factories in rural communities and sourcing its raw materials from local farmers, thereby contributing to the sustainable development of Nigeria,” Osinbajo added.

The Managing Director and Chief Executive Officer, Nestle Nigeria, Mr. Mauricio Alarcon, said, “The new Nestlé Milo RTD is complementing the existing range of offerings of our iconic Milo brand. It is conveniently packaged to offer the unique Milo taste and meet the nutrition needs of active children on the go. This is in line with the company’s commitments to enable healthier and happier lives.

“This new production plant is a true reflection of how Nestlé creates shared value for all by providing good jobs, sourcing 80 per cent of our inputs from local farmers and investing in the development of rural communities.”