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CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Guinness Nigeria PLC was in cooperated in 1950 and its duty then was to import and distribution Guinness stout from Britain for sale in Nigeria. Due to its great success in the sale of the imported stout beer in Nigeria, it was decided that the above brewery will built at the cost of N24M in 1961. The brewery stated production in 1962, this made Guinness Nigeria Plc one of the first companies in the world to produce Guinness stout outside Britain.
This factory was located at Ikeja (Ogbe) Lagos state, and as at then, it was producing only Guinness stout. The company become a public liability company in 1965, and was managed by Nigerians. This makes it possible for Nigerians to buy shares in the company, thus making Guinness Nigeria Plc one of the first companies to be quested on the Nigeria stock exchange market (then the lags stock exchange) one thousand Nigerians acquired some shares in the company totaling twenty percentage (20%) of the company as at the time.
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