National Wire About Nigerians, Nigerian Business and Other Stories
In a statement released at the close of 2023 business year, the Managing Director and CEO of Nestlé Nigeria PLC, Mr. Wassim Elhusseini, expressed gratitude to the company’s team members for their remarkable performance in the 2023 business year highlighting that the organisation surpassed its previous year’s profit, achieving a sales increase of 22.4%, with earnings reaching N547.1 billion.
Elhusseini acknowledged the challenging economic environment but emphasised the team’s commitment, which led to a substantial increase in revenue and operating profit compared to 2022. Despite the impact of the Naira devaluation on financing costs and profit after tax, he remained optimistic about the company’s resilience.
“Looking ahead,” Elhusseini stated, “we remain dedicated to our purpose of unlocking the power of food through responsible local sourcing and the production of high-quality nutritious food and beverages.”
Nestlé Nigeria PLC, a leading food and beverage company in Africa, has a heritage of over 63 years in Nigeria. The firm is renowned for its quality, excellence, and commitment to creating shared value, exemplified through various initiatives aimed at improving livelihoods and supporting communities.
In recognition of its contributions to society, Nestlé Nigeria PLC received prestigious awards in 2023, including the Sustainability, Enterprise, and Responsibility (SERAS) CSR Awards and the Lagos Public Relations Industry Gala and Awards (LAPRIGA).
The company’s dedication to sustainable practices extends beyond its operations to its supply chain and community engagement efforts. Through initiatives such as capacity building for women entrepreneurs, technical training programs for youth, and support for farmers to enhance crop productivity, Nestlé Nigeria PLC continues to make a positive impact on society while promoting long-term economic growth.
Furthermore, Nestlé Nigeria PLC remains committed to innovation and product development, continuously striving to meet the evolving needs and preferences of Nigerian consumers. With a portfolio of iconic brands and a focus on quality and affordability, the company aims to strengthen its position as a trusted provider of nutritious food and beverages in the region.
As the economic landscape evolves, Nestlé Nigeria PLC remains poised to navigate challenges and seize opportunities, guided by its core values of integrity, respect, and excellence. With a steadfast commitment to sustainability and social responsibility, the company aims to contribute to the prosperity and well-being of Nigeria and its people for generations to come.
