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.
