Guinness Nigeria PLC has moved its corporate headquarters from Lagos, Nigeria to Ghana.

Sources familiar with the matter told Peoples Gazette that the brewery makers were only moving their headquarters from Lagos and not completely relocating from Nigeria.

The relocation comes amid harsh economic conditions stifling business operations in Nigeria. The nation has in the past weeks suffered telling fuel scarcity and perpetual blackout occasioned collapsed national grid.

Earlier in the week, diesel, which is used to power most industrial power generators sold as high as N540 per litre.

Nonetheless, the brewery company, in a statement reassured Nigerians of their commitment to keep investing in the country. They were however quiet about relocating their headquarters.

The company also denied being chased away by harsh business environment in Nigeria. But economists believe this was just to avoid riling up Nigerian authorities as the company still has its largest African market and investments in Nigeria.

Commencing operations in Nigeria in 1962, the brewery company has been coordinating it West African operations from its Ikeja headquarters until recently.

The development will place Guinness Nigeria in the league of other businesses like Unilever and Dunlop that have left Nigeria for Ghana.

adekanmbi1986:
Guinness released a statement that the publication on the subject is false.

adekanmbi1986:
Guinness released a statement that the publication on the subject is false.

Rugaria:
This is becoming very frequent these days. Lots of big companies have left Nigeria because of the chaotic situation here and most of them went to Ghana. Essentially, Ghana is feeding off Nigerias predicament while utilizing the ECOWAS free trade agreements to land these big companies. Yet the same Ghana will be chasing Nigerian traders off their territories. What it means is that Ghana chooses which part of the ECOWAS trade agreements that favors her to obey and then avoids the ones that doesn't favor her..

Companies like Guinness and Michelin that have all relocated to Ghana from Nigeria, make most of their sales in Nigeria. The economy of Lagos trounces that of Ghana an they know. Under a very good political environment, you would expect Abuja to introduce new legislations to force these companies to operate here. They can't be selling most of their goods in Nigeria while setting up headquarters in Ghana, where they will be employing Ghanaians and be paying taxes to Accra. This is a brazen manipulation of the ECOWAS agreements to favour their nests. .. It's nothing but corporate exploitation of a weak country and her fledgling legislations..

Armaggedon:
Your comprehension ability though.

Their release addressed the rumors of their relocation not a change of headquarters.
It's clear gazzette is correct. They're moving their headquarters.

adekanmbi1986:
Guinness released a statement that the publication on the subject is false.

Lonestar124:
Is Ghana economy now better than Nigeria now or they haven't heard of Ghana of a recent....

Lipscomb:
Federal government should not hesitate to sanction them they should come and carry their carcass we don't need them.

EastisBae:


You must be very gullible and easy to decieve. The argument is that they've moved their headquarters to Ghana and even in the press release, they never denied it, instead they kept using bogus words to dance around it.

FYI, Nigeria is their biggest market in this region and most of their assets are in Nigeria too, and no investor will abandon its biggest market to rivals! However, when you move your headquarters away from your biggest market and asset base to another country, means the bulk of your taxes, logistics, recruitment etc will be conducted there and that's a massive loss to Nigeria.

Secondly, it is a vote of no confidence on the economy, and could signal other investors to stay away from Nigeria.

That you're not seeing the tragedy in all these shows you're missing the bigger picture.

Rugaria:
This is becoming very frequent these days. Lots of big companies have left Nigeria because of the chaotic situation here and most of them went to Ghana. Essentially, Ghana is feeding off Nigerias predicament while utilizing the ECOWAS free trade agreements to land these big companies. Yet the same Ghana will be chasing Nigerian traders off their territories. What it means is that Ghana chooses which part of the ECOWAS trade agreements that favors her to obey and then avoids the ones that doesn't favor her..

Companies like Guinness and Michelin that have all relocated to Ghana from Nigeria, make most of their sales in Nigeria. The economy of Lagos trounces that of Ghana an they know. Under a very good political environment, you would expect Abuja to introduce new legislations to force these companies to operate here. They can't be selling most of their goods in Nigeria while setting up headquarters in Ghana, where they will be employing Ghanaians and be paying taxes to Accra. This is a brazen manipulation of the ECOWAS agreements to favour their nests. .. It's nothing but corporate exploitation of a weak country and her fledgling legislations..

Maybe it's also time to beg Hushcobar Tinubu and his goons to stop hammering businesses in Lagos with unimaginable taxes! Nigerian businesses there, groan quietly because they don't really have no alternative but foreign businesses will definitely not take the piss. The Lagos State government is over laboring businesses with taxes and demands! If you compare what Lagos State earns, which is more than what Togo or Benin Republic earns as taxes in a year, and you look at what these countries do with their earnings, vis a vis the hedonistic owambe lifestyles of Tinubu and his minions at Alausa, you would agree with me that the whole country is now paying the price for the overzealousness that is officialdom in Lagos..

Truvelisback:
If Nigeria is better than Ghana, they wouldn't have relocated. This is to tell u that the situation of Nigeria is getting worse.

Lonestar124:
They are calculative with their decision, in as much most Nigerians don't consume guniess like before because it is costly ,it does not automatically means Nigeria is not cumsumer of guiness in Africa not to talk of west Africa....Respest should be given to whom is due....they will definitely lose much in logistics with this decision

SmartPolician:


How old are you?

Rugaria:
This is becoming very frequent these days. Lots of big companies have left Nigeria because of the chaotic situation here and most of them went to Ghana. Essentially, Ghana is feeding off Nigerias predicament while utilizing the ECOWAS free trade agreements to land these big companies. Yet the same Ghana will be chasing Nigerian traders off their territories. What it means is that Ghana chooses which part of the ECOWAS trade agreements that favors her to obey and then avoids the ones that doesn't favor her..

Companies like Guinness and Michelin that have all relocated to Ghana from Nigeria, make most of their sales in Nigeria. The economy of Lagos trounces that of Ghana an they know. Under a very good political environment, you would expect Abuja to introduce new legislations to force these companies to operate here. They can't be selling most of their goods in Nigeria while setting up headquarters in Ghana, where they will be employing Ghanaians and be paying taxes to Accra. This is a brazen manipulation of the ECOWAS agreements to favour their nests. .. It's nothing but corporate exploitation of a weak country and her fledgling legislations..

Maybe it's also time to beg Hushcobar Tinubu and his goons to stop hammering businesses in Lagos with unimaginable taxes! Nigerian businesses there, groan quietly because they don't really have no alternative but foreign businesses will definitely not take the piss. The Lagos State government is over laboring businesses with taxes and demands! If you compare what Lagos State earns, which is more than what Togo or Benin Republic earns as taxes in a year, and you look at what these countries do with their earnings, vis a vis the hedonistic owambe lifestyles of Tinubu and his minions at Alausa, you would agree with me that the whole country is now paying the price for the overzealousness that is officialdom in Lagos..

EastisBae:


You must be very gullible and easy to decieve. The argument is that they've moved their headquarters to Ghana and even in the press release, they never denied it, instead they kept using bogus words to dance around it.

FYI, Nigeria is their biggest market in this region and most of their assets are in Nigeria too, and no investor will abandon its biggest market to rivals! However, when you move your headquarters away from your biggest market and asset base to another country, means the bulk of your taxes, logistics, recruitment etc will be conducted there and that's a massive loss to Nigeria.

Secondly, it is a vote of no confidence on the economy, and could signal other investors to stay away from Nigeria.

That you're not seeing the tragedy in all these shows you're missing the bigger picture.

Truvelisback:
Who told u Nigeria don't consume guiness like that? They do. It's just the high cost of goods and services in Nigeria that is discouraging them. Other companies have Left Naija completely because of this.