The Anambra State Government under Governor Charles Chukwuma Soludo has inadvertently validated a long-standing economic claim by former Governor and Labour Party presidential candidate, Peter Obi confirming that SABMiller Brewery (Intafact Beverages Ltd) remains one of the highest taxpayers in the state.
In a statement released by the Anambra Internal Revenue Service (AIRS) on Thursday, the government attempted to refute Obi’s assertion that SABMiller is the state’s largest revenue contributor. However, the document released showed that the brewery ranked sixth overall, falling just behind five commercial banks, with a tax contribution of ₦656,558,123 from 2023 to 2024, including both Pay As You Earn (PAYE) and Withholding Taxes (WHT).
Despite the government’s attempt to downplay the brewery’s economic impact, the statistics presented reinforced Obi’s position that the brewery is a significant revenue source, especially when banks not considered government-attracted investments are excluded.
“Interestingly, SABMiller company comes in a distant sixth position behind Fidelity Bank Plc with a gross tax payment of ₦656.5M in two years (2023 and 2024),” the AIRS document stated.
“The company contributed, on average, ₦28M per month in 2023 and ₦26.62M per month in 2024.”
The report further emphasized that the banks First Bank, Zenith Bank, United Bank for Africa, Access Bank, and Fidelity Bank topped the list, but were labeled as “non-federal institutions” whose presence wasn’t credited to state-led investment initiatives.
Obi’s Original Claim and Background
Peter Obi had earlier claimed that the SABMiller Brewery was Anambra’s largest revenue source and a key job creator, referencing his efforts to bring the company to the state during his tenure as governor.
“The biggest revenue earner in Anambra State is our brewery,” Obi told Arise TV.
“I had to go out trying to attract business to Anambra State. If I tell you what I suffered for that brewery to be built, you won’t believe it.”
Commissioned in 2012 as a greenfield investment, the Onitsha-based Intafact Beverages Ltd, initially owned by SABMiller and now part of AB InBev, attracted over $210 million in capital investment. The Anambra State Government invested approximately ₦2 billion (about $12.6 million) for a 10% equity stake, which Obi defended as a socially impactful, strategic investment.
Rising Revenue, Still Room for Debate
The AIRS also highlighted Governor Soludo’s success in increasing monthly Internally Generated Revenue (IGR) from a previous low of ₦1.5–₂ billion to as high as ₦4 billion monthly, with a record peak of ₦10.5 billion in May 2025.
However, critics argue that tax revenue isn’t the sole indicator of investment value and stress the need to distinguish between revenue from private banks and state-facilitated projects like SABMiller.
NIGERIANS REACT:
Meanwhile, the statement by the Anambra Government has generated backlash from some Nigerians.
The reactions were garnered from the Facebook session of Anambra First, a page dedicated to disseminating information and activities of the state government.
According to Tochi Henry, a Facebook user, the document didn’t contradict Obi’s claim but rather justified it.
He said, “You ended up affirming his position. Aside from Banks, SabMiller is the highest. And he (Peter Obi) was also right to say ‘one of the highest’ taxpayers.”
Another Facebook user, Paschal Onwuneme, said, “With this information, you have proven that Mr Peter Obi was right in his statement.
“Banks are not government-attracted investments. We will keep this information for future reference before you tell us that investment in SABMILLER is next to nothing.”
Another Facebook user, Kelechukwu Favour, asked, “So Soludo’s government has no investment that pays [tax]? Or they’re the ones who attracted those banks to Anambra?”
Chidi Nwafor added that “Obi is right after all; emphasis should be on institutions attracted by the state. We remain curious to know the economic impacts of firms brought in by the current government, if any.”
Also, Eze Ugo noted the government “shot themselves in the legs”. He said, “Soludo once told us that the investment was next to nothing; now it has been proven that they pay taxes above 20m per month.
“How many governors made such investments? Besides, most of those ahead of SABMiller are just Banks which aren’t in the class PO mentioned.”
Meanwhile, Peace Mirable, a Facebook user, advised political players to fact-check their claims before making them public. She said, “Leaders should ensure their statements are accurate, especially when it concerns state revenue.”
