Nestle invests N74.1bn in 5 years
Posted: 13/Feb/2018

As part of its commitment to the economy, Nestle Nigeria  Plc has invested N74.1 billion on its operations in the last five years.

Its Managing Director / Chief Executive Officer, Mauricio Alarcon, disclosed this Thursday when the Vice President Yemi Osinbajo commissioned the N4.1 billion Milo Ready-To-Drink (RTD) plant in Agbara, Ogun State.

According to him, Nestle will continue to invest in the development of Nigeria’s people, in the innovation of new products to meet consumer needs and preferences, and in new facilities to help the company achieve its growth objectives for the country.

He added: “This new manufacturing facility reflects our confidence in the resilience of Nigeria’s economy and our long term perspective, which looks beyond today. Leveraging our strong R&D capabilities, we continue to develop a relevant wide range of high quality nutritional offerings adapted to local tastes. I mentioned to you earlier that we are committed to developing our people.”

He hinted that the factory is a true reflection of how Nestlé creates shared value for all by providing good jobs, sourcing 80 per cent of its inputs from local farmers and investing in the development of rural communities.

For instance, he said the malt used in Milo is made from sorghum supplied by smallholder farmers who are part of the Sorghum and Millet in the Sahel programme (SMS), which Nestlé runs in partnership with the International Fertiliser Development Corporation (IFDC).

He added: “Under this project, we train farmers on good farming and business practices. The farmers are taught how to improve the quality of their grains while increasing the yield from their farms. The availability of higher quality grains ensures that we have the input needed for Nestlé’s strict quality standards and that the farmers have a steady source of income.

We are constantly inspired by the stories of the 30,000 farmers we have reached through the SMS program in the last 2 years.

One of such success stories is Saadatu from Kano who says that, now, nothing is impossible for her family. By purchasing directly from small-scale suppliers and aggregators, we not only seek to protect the supply and quality of our raw materials, but also to have a positive, long-term impact on the local economy and standards of living of rural communities.”

By: Steve Agbota
Sun News

Category: Markets
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