Philip Morris International, the world’s largest tobacco company, has concluded plans to begin manufacturing in Nigeria before the end of 2016.
Although they have long begun operating within the country the company have expressed their confidence in Nigeria’s economy only recently.
Philip Morris International took hold of the opportunity provided by ECOWAS Trade Liberalisation Scheme (ETLS) to bring its brand into the country from its manufacturing plant located in Senegal, when the company came into Nigeria in 2015.
“We are proud to be in Nigeria at a time when economic diversification is so critical to Nigeria’s long term economic objectives,” Coskun Kagan Dicle, the managing director of PMINTL Nigeria Limited, revealed to the press.
“Our company was incorporated in December 2014 and during 2015 received all regulatory approvals required to commence importation of some of our world-class brands into Nigeria under the ECOWAS Trade Liberalisation Scheme from our factory in Senegal.
“However, in pursuit of our long term objectives in Nigeria, we have entered into a strategic agreement with International Tobacco Company Limited (ITC), a Nigerian company, to commence local manufacturing of some of our brands before the end of 2016.”
The tobacco company has operations in 180 countries.
