Guinness Nigeria Unveils £6.2m HQ, Declares N15.27b In Three Months

Photo Caption: Dr Omobola Johnson, Guinness Nigeria’s Board Chair flanked by former Board Chairman, Guinness Nigeria, Mr Babatunde Savage and Mr Baker Magunda, Managing Director, Guinness Nigeria Plc, during the inauguration of the company’s new headquarters in Lagos on Thursday, 

Guinness Nigeria Plc, a member of the Diageo family,  on Thursday opened its new £6.2 million ultra-modern headquarters (HQ) located at Cocoa Industries Road, Ogba, Lagos State.  

 In her speech, Guinness Nigeria’s Board Chair, Dr Omobola Johnson, said the ceremony also doubled as a celebration of the 72nd Anniversary of Guinness Nigeria’s consistent business in Nigeria. 

Johnson noted that the world-class edifice was a testament of the Guinness brand’s confidence in continuing to do business in Nigeria and had rested rumours that the company was relocating from the country. 

“It is a testament that Guinness is here to stay and committed to doing business in Nigeria,” she said. 

The News Agency of Nigeria (NAN) reports that the new Guinness  Nigeria complex has a bar, game room, gym and modern office facilities among others. 


According toJohnson, the modern edifice shows the culture Guinness stands for and the company’s aspirations for the future. 

“It is about working well, living well and also playing well,” she added. 

Johnson thanked the management and members of staff of Guinness Nigeria for their resilience and commitment to improving the company’s performance. 

Also, Mr Babatunde Savage, former Board Chairman, Guinness Nigeria, said Guinness had contributed so much to the socio-economic development of Nigeria. 

Savage said the approval of the Diageo Group for the new headquarters to be constructed in Nigeria showed that the company had a long term plan of operating in the country. 

Prof. Mojisola Adeyeye, Director General, National Agency for Food and Drug Administration and Control (NAFDAC), lauded Guinness Nigeria for playing a critical role in the food and beverage sector. 

  Adeyeye, represented by Mrs Eva Edwards, Director, Food Safety and Applied Nutrition, NAFDAC, said the regulatory agency would continue to support Guinness to ensure the success of its business in Nigeria. 

Also, Mr Mark Sandys, Global Head of Beer, Baileys and Smirnoff, Diageo Group, said Nigeria forms a special place in the history of Guinness being the second place the beer was brewed after Ireland. 

  Sandys said the new headquarters was a clear indication of the company’s confidence in Guinness Nigeria based on its performance in the country. 

  Earlier in his welcome address, Mr Baker Magunda, Managing Director, Guinness Nigeria Plc, said the facility represented Creativity, Collaboration and Connection. 

  He said the workplace was structured in such a way that workers would be able to improve their productivity while taking advantage of the innovations created by the new-normal introduced due to the COVID-19 pandemic.  

  “Through the past 72 years, we have continually invested in the Nigerian economy, and our new ultra-modern headquarters reaffirms our long-term strategic expansion plans and commitment to Nigeria,” Magunda said 

 Meanwhile, Guiness Nigeria  Plc  has posted a Profit After Tax of N15,278, 335,000 billion for its third quarter ended March 31, 2022. 

  The company in its third quarter  statement issued on Thursday said the amount represented a 731 per cent growth over the same period in 2021. 

The statement said Guinness Nigeria also reported a revenue of N159,444,503, which represented a 39 per cent growth over the same period last year. 

“The results show an impressive performance and a significant improvement when compared to the same period last year. 

“This is a testament to an unwavering commitment to meeting consumer demands as well as the company’s resilience in a challenging operating environment,” it said. 

Commenting on the announcement, Mr Baker Magunda, Managing Director, Guinness Nigeria Plc, said the company had in the first nine months of 2021, continued to grow on the back of the strong recovery in the first half of fiscal year. 

He said: “The business has delivered growth in the face of the challenging operating environment characterised by rising inflation and forex challenges in the three months ended March 31. 

“Revenue grew by 39 per cent to N159.4 billion benefitting mainly from price increases across all brands, as well as from favorable brand mix and resilient consumer demand. 

“We have delivered revenue growth across all key categories driven by our strategic focus brands, Malta Guinness and Guinness, as well as strong growth in local and imported spirits and the ready-to-drink category. 

“This has further showed that our strategy is sound, and we are unwavering in our commitment to ensuring our long-term competitiveness in Nigeria.” 

He said the released statement stated that Gross Profit grew 76 per cent in the period as revenues grew ahead of cost of sales. 

Magunda said: “Cost of Sales increased by 24 per cent largely due to inflationary shift towards more expensive can products. 

“Marketing expenses increased 68 per cent versus last year as it increased its marketing investments. 

“We increased marketing investment to support our strategic growth priorities and the recovery of the on-trade. 

“Distribution expenses also increased 36 per cent driven by higher volumes, freight and diesel inflation and extended journey time for road transportation. 

”All of our efforts delivered an operating profit growth of 200 per cent to N22.9 billion.” 

He noted that the Management at Guinness Nigeria remained resolute in its business strategy, as well as its engagement of stakeholders across its value chain. 

“As we enter our 72nd year of existence in Nigeria, we remain fiercely committed to Nigeria and to having a positive impact on those around us and our consumers. 

“We launched a give-back campaign in honour of our anniversary and have delivered care packages to 72 NGOs, 72 churches and 72 mosques in our host communities. 

“We opened our new ultra-modern headquarters in the heart of Ogba Ikeja and we continue to take giant strides towards championing inclusion and diversity with the extension of our women’s empowerment programme tagged ‘Plan W’ to more rural communities in Owerri, Benin and Oshogbo. 

According to him, the company was also driving responsible drinking with the nation-wide adoption of its e-learning Responsible Drinking Education Module themed, “The Wrong side of the Road.” 

“All of these efforts are in line with strategy for consistent delivery of value for all stakeholders,” Magunda added. 

Also, Dr Omobola Johnson, Board Chair of the Board of Guinness Nigeria Plc, commended the result. 

“The Board remains confident that our strategy is sound and will continue to support the management to build a business that will consistently deliver sustainable growth for all our stakeholders.”