Nigeria’s food market is on track to reach a staggering $233.53 billion by 2025, driven by a projected annual growth rate of 10.76% from 2025 to 2030.
This was revealed by Paul Marz, Managing Director of Fairtrade, at the 10th German Agrofood and Plastprintpack Exhibition held at the Landmark Centre in Lagos.
Nigeria’s Growing Agrofood and Packaging Industry
Marz emphasized Nigeria’s rising investment in agrofood and packaging technologies, noting that the sector attracted £304 million in 2023. The country now ranks as Africa’s second-largest investor in this space, just behind South Africa (£398 million).
The exhibition featured over 100 top exhibitors from 12 countries, including China, Finland, France, Germany, India, Italy, and Nigeria, showcasing innovative solutions tailored for the Nigerian market.
Germany Strengthens Business Ties with Nigeria
Germany, the guest of honor at the event, reaffirmed its commitment to deepening economic partnerships with Nigeria. The German Consul General in Lagos, Weert Börner, highlighted the significance of sustainable business collaborations between the two nations.
Food Security at the Heart of Nigeria’s Economic Agenda
Minister of Agriculture and Food Security, Sen. Abubakar Kyari, represented by Mrs. Omolara Oguntunyi, underscored the importance of food security as a key driver of economic stability.
“This gathering comes at a crucial time in our collective push towards achieving food security, which is essential for economic growth and social well-being,” Kyari said.
The 10th German Agrofood and Plastprintpack Exhibition concluded on Thursday, marking a decade of innovation, investment, and international collaboration in Nigeria’s booming agrofood and packaging industries.
