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Guinness Nigeria addresses reports of operational shutdown



Guinness Nigeria has denied reports that the company is preparing to discontinue its business in the country, and currently seeking buyers for its assets in the Nigerian market.

In a statement released to the Nigerian Exchange Limited (NGX) and the investing public, Guinness said it’s not exiting the market which it has been operating in since 1950.

The management of the alcoholic manufacturer described the reports as malicious, and linked the misinformation to property agents with intent to mislead the public.

“This falsehood is being irresponsibly circulated by faceless persons purporting to be property agents and unfortunately being amplified by some online news media without proper checks with the Management of the Company.” Guinness said.

The report further reads that, “Guinness Nigeria Plc. certainly has no plans to exit Nigeria, contrary to the orchestrated false publication making the rounds.”

READ ALSO: Guinness Nigeria projects 5% GDP decline as it pays N918m for trademark

It explained that the malicious publication doesn’t relate with its investment and expansion drive. In a bid to assure investors, Guinness said it had acquired 25-acre commercial property in the Ogba industrial area of Lagos in late 2021 in line with the expansion plan.

“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.” The statement reads further.

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