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Nestle to Spend $ 92 million on Nigeria Expansion, Sell More Maggi, Milo and Golden Morn

By on February 29, 2012

Nestle Nigeria has announced plans to spend $92 million to boost its output in Africa’s biggest consumer market.

According to Nestle CEO, Martin Woolnough, ““We’ve got a lot of money going into the country and that will be to do with improving capacity on our key brands.”

Nestle expects to double the size of its business within the next three year, which would mean growing revenue to about a billion dollars.

The companies best selling products are Maggi, Golden Morn and Milo.

Speaking on the company’s strategy, Woolnough stated, “The good thing is we’re still in base food products, the key there, of course, would be that we’re going into everyone’s soups, stews and breakfasts everyday.”

“We’re still, roughly speaking, only around one third of the market share in the categories we operate in. There’s huge potential still and on top of that the population growth is just staggering.”

 

 

One Comment

  1. Anonymous

    February 29, 2012 at 2:42 pm

    GOOD