ECONOMIC IMPACT
Contributing to Economic Growth
Through the increase of shareholder value, generation of employment, creation of business opportunities, payment of taxes to various levels of government as well as other linkage effects, the BSG is making enormous contributions to the economic development of Nigeria.
Besides, our businesses support many ancillary industries whose survival depends upon our operations.
Employment
Among the organized private sector operators in Nigeria, BSG members play a key role in generating direct and indirect employment for the youth. Our member companies are consistent employers of labor in the country. We are committed to the engagement of workers; training, motivating and providing them opportunities to sharpen their skills, grow, and acquire experiences comparable to their peers globally.
The Economic Impact Assessment carried out by some of our members between 2016 and 2017 showed that our members supported over 300,000 jobs within the value chain. Collectively, we sustain revenue generation for over 70,000 sorghum farmers. We also provide indirect employment for suppliers, contractors, transporters, distributors, retailers and others.
Revenue to the Government
The Annual Reports and Financial Statements of member companies of the BSG as well as the Economic Impact Assessments carried out by some of them in 2017 revealed that the gross revenue generation was over N500 billion while the total value added within their value chains to the national economy amounted to over N440 billion and taxes paid stood at N13.5 billion.
Foreign Exchange Revenue
Some of our members earn foreign exchange through engaging in exports of locally brewed brands, which compete favorably with their foreign counterparts in over 7 countries including the United Kingdom and the United States of America.
Revenue Generated and Value Added
The BSG continues to fulfil its obligatory roles through the payment of various taxes to the government. In 2017, over N13 billion was directly paid as taxes to the different tiers of government. Such taxes include:
Excise duty
Corporate tax
PAYE
VAT
Withholding and Education Taxes
Capital Investments
In a bid to cater for growing demand and drive marketing and technical innovations to facilitate the satisfaction of changing consumer tastes and preferences, our members invest heavily in infrastructure and research.
In addition, investments in plant modernizations, expansions, installation of new packaging facilities, as well as research and development are priority for member companies. Our Individual company records reveal that over N75 billion was invested by BSG companies in the Nigerian economy between 2016 and 2017 alone.