PMI strengthens position in Nigeria

Philip Morris International said yesterday that it had finalized plans to have cigarettes manufactured in Nigeria before the end of this year, according to a story in The Vanguard.

Last year, PMI was said to have taken the opportunity provided by the Economic Community of West African States (ECOWAS)’s Trade Liberalization Scheme (ETLS) to bring its brands to Nigeria from its manufacturing plant in Senegal.

“We are proud to be in Nigeria at a time when economic diversification is so critical to Nigeria’s long term economic objectives,” said PMINTL Nigeria Limited’s MD, Coskun Kagan Dicle.

“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 Liberalization 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, a Nigerian company, to commence local manufacturing of some of our brands before the end of 2016.

“We are proud that in less than two years of our presence in Nigeria, we have already reached the stage of starting local manufacturing, which has been possible, thanks to the relentless efforts of our strong team of Nigerian talents.”