Obasanjo Inaugurates BAT’s Head Office

Former President Olusegun Obasanjo has described the new head office of British American Tobacco Nigeria located in Ikoyi, Lagos, as a major milestone and also a testament to government’s efforts geared towards attracting foreign direct investment. Tracing the return of BAT to Nigeria, which began with the signing of a Memorandum of Understanding between the government and the company in 2001, Obasanjo said that BAT was among the first companies that heeded his government’s invitation to invest in Nigeria.

Praising the role of the private sector in economic development and jobs creation, Obasanjo, who was the chief guest at the event, highlighted the important roles that companies such as BAT play in the country.

“Almost a decade and a half after the signing of the MOU, we are again at BAT to witness another milestone. I’m particularly delighted because this head office building showcases faith in Nigeria and BAT’s continued investment in Nigeria,” he added.

One of the major benefits of democratic rule is the relative stability the country enjoys, in addition to engendering an environment conducive for businesses to thrive, said Chris McAllister, Managing Director, BAT Nigeria. Listing the objectives of the MOU BAT signed with the Federal Government to include the development and expansion of a fully vertically integrated tobacco industry; the building of potential for regional exports; significant increase in both the quality and quantity of tobacco grown and establishment of an independent foundation to address rural economic development, McAllister said that the company had continued to fulfill its obligations to Nigeria.

The multi-storey building will serve as the headquarters of BAT for its West African operations.

The Oyo State government represented by the Deputy Governor of the state, Chief Moses Adeyemo, catalogued the tremendous benefits the state had derived from BAT’s operations in the state. Besides earning over N1 billion in taxes, the company has also invested over N7 billion in Nampack, its packaging arm.

Senator Sam Egwu, who represented the National Assembly, commended BAT for its adherence to rules and regulations.