PepsiCo’s $20m Factory Launch Marks Shift Towards Sustainable Industrialisation in Nigeria

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has hailed the launch of PepsiCo’s new factory in Lagos as a significant step towards sustainable industrialisation and regional export competitiveness in Nigeria. The facility, developed in partnership with DP World, represents a $20 million investment and reflects PepsiCo’s growing commitment to Nigeria as a manufacturing hub.

The factory, which has begun producing locally-made Cheetos snacks, sources over 90% of its raw materials from local partners, including Northern Nigeria Flour Mills, Grand Cereals, and Babban Gona. Edun noted that this investment demonstrates Nigeria’s transition from an import-dependent market to a competitive production hub under the African Continental Free Trade Area (AfCFTA).

“This plant shows the bold reforms we are driving to stabilise our economy and unlock sustainable growth,” Edun said. “When global brands choose to invest locally and source raw materials from Nigerian farmers and suppliers, it builds resilience, creates jobs, and unlocks export opportunities.”

Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs. Folashade Bada Ambrose-Medebem, praised the collaboration as transformative for Lagosians, citing its potential to expand access to international markets, create jobs, and improve food security.

PepsiCo’s General Manager for Nigeria, Felix Enwemadu, emphasized the company’s long-term commitment to the country, highlighting its investment in community programs and partnership with WaterAid Nigeria. DP World’s Managing Director for Nigeria, Ajit Nair, noted that the partnership positions Nigeria as a hub for exports under AfCFTA, with the potential to drive growth and competitiveness in the region.

The launch of the factory marks a significant milestone in Nigeria’s industrialisation journey, with stakeholders hailing it as a major step towards sustainable growth and development.

Do You Need More Trending Updates? Then kindly bookmark our blog Realgosipcenter.com.ng, we will update you with more latest musics in mp3 audio format and video in mp4 formats as soon as they drop for quick downloads.