Nigeria recorded a remarkable investment of €304 million in food and packaging technology in 2023, securing its position as the second-largest investor in Africa in this sector.
This achievement places Nigeria ahead of Algeria and Egypt, with only South Africa leading the continent in investments.
The announcement was made by Ms. Freyja Detjen, Senior Project Manager at FairTrade Messe, during the 10th edition of the Agrofood and Plastprintpack exhibition held in Lagos on Tuesday, as reported by the News Agency of Nigeria (NAN).
“In 2023, investments in food and packaging technology reached €304 million, making Nigeria the second largest investor in Africa, ahead of Algeria, Egypt and just behind South Africa. These numbers show the country’s commitment to advancing its industries and addressing cutting edge solutions to drive economic development,” Detjen stated.
She described the event as more than just a trade show, emphasizing its critical role as a dynamic platform for innovation, collaboration, and economic growth.
The exhibition served as a melting pot for ideas and solutions aimed at driving Nigeria’s agro-industrial transformation.
The NAN report noted that the event hosted 115 exhibitors from 12 countries, including Nigeria, China, Germany, Italy, and South Africa.
These exhibitors showcased cutting-edge products and solutions specifically tailored to the Nigerian market, reinforcing the exhibition’s position as one of the country’s most influential industry platforms.
The diversity of participants highlighted Nigeria’s growing appeal as a hub for global investment and innovation in food and packaging technology.
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In his opening remarks, the Minister of Agriculture and Food Security, Sen. Abubakar Kyari, represented by Mrs. Omolara Oguntunyi, reaffirmed the Federal Government’s unwavering commitment to achieving food security and advancing the agricultural sector.
Kyari stated, “In the pursuit of sustainable development, today we gather at a critical junction in our collective journey toward achieving food security, the cornerstone of economic stability and social wellness.”
- The minister identified key global challenges, including climate change, economic uncertainties, and health crises, as threats to food systems worldwide. He, however, expressed confidence that collaborative efforts, innovative solutions, and bold policies could address these pressing issues.
- During the high-level plenary discussions, the Ministry of Agriculture and Food Security shared updates on initiatives aimed at fostering sustainable growth. These included promoting climate-resilient agriculture, expanding irrigation systems, and providing targeted training and financial assistance to small-scale farmers.
The ministry also reiterated its commitment to implementing policies rooted in global best practices and informed by cutting-edge research.
