Africa: Nigeria Invests €304m in Food, Packaging Tech, Africa's 2nd Highest

18 February 2025
Vanguard (Lagos)
By Yinka Kolawole

As exhibitors plan for Agrofood & Plastprintpack Nigeria 2025

Nigeria invested more than €304 million in food and packaging technology in 2023, ranking as the second largest investor in Africa, trailing South Africa with €398 million and ahead of Egypt with €281 million.

Freyja Detjen, Exhibition Director at Fairtrade Messe, leading or#NigeriaAt58ganiser of professional agrofood and plastprintpack trade fairs for Africa & the Middle East, stated this at a pre-event stakeholders briefing for the 10th edition of agrofood and plastprintpack Nigeria, scheduled for March 25-27, 2025 in Lagos.

She stated: "With investments in food and packaging technology amounting to €304m in 2023, Nigeria stands as Africa's second-largest investor, trailing only South Africa with €398m and leading Egypt with €281m.

"Nigeria's food production has witnessed a remarkable surge of 39.6% in recent years, from €26bn in 2016 to €36.3bn in 2020, projected to rise by 48% between 2021 and 2024, from €42.3bn to €62.6bn.

"Despite significant investments in local food production, Nigeria's food imports totaled US$6.1bn in 2023 (WTO), positioning the nation as one of Africa's foremost food importers.

"With €134m in 2023, Nigeria emerges as the fourth-largest investor in plastics technology in Africa, showcasing an annual growth rate of 13.9% between 2016 and 2023.

"Nigerian imports of printing and paper processing technology have surged by 17% annually, reaching €92m in 2022, securing Nigeria's position as the second largest investor in sub-Saharan Africa.

"Nigeria ranks fourth in terms of investment in packaging technology in Africa with €139m in 2023, after South Africa with €194m, Algeria with €161m and Egypt with €145m."

On the upcoming Agrofood and Plastprintpack Nigeria 2025, Detjen said around

100 leading exhibitors from over 15 countries are expected to showcase tailored products and solutions for the Nigerian market, adding that there will be active involvement from key ministries of the Nigerian government at both the federal and Lagos State levels.

Detjen also said there will be official national pavilions from China, Germany, Poland, the Netherlands, and South Africa, adding that the event will provide opportunities for collaboration, knowledge exchange and business development between German and Nigerian stakeholders

Read the original article on Vanguard.

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