Guinness Says No Plans To Leave Nigeria, After 71 Years Of Corporate Expansion

The management of Guinness Nigeria Plc, on Friday described as “false, malicious, and misleading,” allegations by those it termed “faceless persons purporting to be property agents, on social media platforms it is leave the country, following which it has begun stripping some of its assets.

In the statement by Rotimi Odusola, its Company Secretary/Corporate Relations Director, and filed with the Nigerian Exchange Limited, Guinness Nigeria said it “certainly has no plans to exit Nigeria, contrary to the orchestrated false publication making the rounds.

“We are strong, stable, and delivering value to our esteemed stakeholders,” the statement assured, adding that the malicious publication does not align with its “well-publicised investment and expansion drive, as we recently reaffirmed our long-term strategic expansion plans in Nigeria with the acquisition of an additional 25-acre commercial property in the Ogba industrial area of Lagos purchased recently in late


The company further hinted that there was no reason to exit Nigeria, especially with its announced our Half Year Unaudited Financial Result for the six months ended December 2021, a performance it described as stellar, with its 266% growth in Operating Profit at N13.6bn.

“Contrary to the false information being circulated by detractors, we are renewed in our efforts to serve our revered consumers and creating more job opportunities for Nigerians as seen in the new $5 million additional production line recently commissioned at our Brewery in Ogba, Lagos in October 2021. We are also pleased to state that we are on the verge of completing work on our new ultra-modern administrative head office block located in Ikeja where we will be moving in the next few weeks,” the company stressed further.

While urging its esteemed shareholders, employees, and other stakeholders to ignore the publication, given its history as “one of the oldest surviving manufacturing companies in Nigeria.

“Guinness Nigeria subscribes to the highest standards of corporate governance and will continue to demonstrate the highest standards of integrity, and especially guarantee that our engagement with consumers, government agencies, suppliers, shareholders, and other stakeholders is driven by our values and principles,” it added, restating its confidence in the Nigerian economy.

Over these past 71 years, Guinness Nigeria promised to “remain a major player in the country by continually investing, developing capabilities, growing brands that most suit the consumers’ needs; and contributing positively to lives, communities and the environment.”