Nestle to commission N4.6 billion state-of-the-art factory in Abuja

Global FMCG player, Nestle is set to commission a N4.6 billion state-of-the-art factory in Abuja, the Federal Capital Teritory of Nigeria.

The Chairman of the company, Mr. David Ifesulike, disclosed this while addressing the press at the company's Annual General Meeting in Lagos on Tuesday. He stated that the facility which occupies 14.13 hectares reflects more than just an investment, which could also broaden the company’s operations.

The food and beverage giant declared a turnover of N143.32 billion for the financial year ended December 31, 2014 which also, represents an eight per cent growth over N133.84 recorded in the period of 2013.

Mr. Ifesulike reaffirmed that Nestle will continue to strengthen the foundations of future growth.

The company declared a final dividend of N17.50 kobo ordinary share from the pioneer profits, in addition to the interim dividend of N10.00 per share already paid, translating to N27.50 kobo per share. This also represented an increase of eight per cent over N25.50 paid in the previous year.