Diageo progresses £370m Nigerian brewing expansion
LAGOS - Diageo would complete by November a £235-million investment in Nigeria to boost its beer production capacity in Africa's most populous nation by 50%, the firm's president for Africa said on Monday.
Diageo, which produces Guinness in Nigeria, had already spent half the money to expand its operations and would complete the investment within nine months, Nick Blazquez told Reuters on the sidelines of an investment conference.
Nigeria, a country of 160 million, is the world's largest consumer of Guinness, but Blazquez said beer sales had declined in the last year because of reduced disposable income, due to higher electricity and motor fuel prices.
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