Investments in the agrofood, plastics, printing, and packaging sectors have reached a total of €363 million (equivalent to N488 billion) as of 2022, according to recent observations.
Freyja Detjen, Senior Project Manager at Fairtrade Messe, disclosed this during a briefing in Lagos ahead of the 9th edition of the agrofood and plastprintpack exhibition in Nigeria.
Detjen highlighted that Nigeria’s investment in technology is driving remarkable growth in these sectors. With a total investment of €363 million in 2022, Nigeria ranks as Africa’s second-largest food and packaging technology investor, trailing only South Africa.
Despite strides in local food production, Nigeria remains a significant player in the continent’s food import market, totalling US$6.9 billion in 2022.
Detjen emphasized, “Investments in plastics, printing, and packaging technologies continue to rise, showcasing Nigeria’s position as a regional leader in innovation and industry advancement.”
The upcoming international exhibition and conference, scheduled for March 26 to 28, 2024, are expected to be the largest yet. Following the success of the March 2023 edition, organizers have enhanced various aspects of the event, expanding into three halls, a first in its history, solidifying its status as the premier gathering in Nigeria’s agrofood and plastprintpack industries.
Exhibitors from 17 countries, including Austria, China, Germany, India, Italy, and Nigeria, will attend, with key ministers from both the Federal and Lagos State governments expected to be in attendance.
