PepsiCo and DP World have launched a $20 million production plant in Lagos, strengthening Nigeria’s role as a key manufacturing base in West Africa. The new facility will manufacture PepsiCo’s Cheetos snack brand and source more than 90% of its inputs from within Nigeria. The project is designed to stimulate local job creation, improve food availability, and widen export potential under the African Continental Free Trade Area (AfCFTA).
At the commissioning ceremony, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said the investment demonstrates how international businesses and Nigeria’s reform agenda can align to unlock growth. He noted that President Bola Ahmed Tinubu’s policies are restoring stability, attracting capital, and creating a foundation for inclusive development.
Long-term goals
Ahmed El-Sheikh, PepsiCo’s CEO for the Middle East, North Africa, Pakistan Foods (MENAPAK), and Egypt, emphasized Nigeria’s strategic importance to the company’s long-term plans, describing the project as a sign of confidence in the country’s prospects and a commitment to sustainable expansion.
From a logistics perspective, Mohammed Akoojee, DP World’s CEO for Sub-Saharan Africa, highlighted Nigeria’s pivotal role in regional trade, stressing that the partnership will reinforce resilient supply chains and contribute to Africa’s economic growth. Officials noted that the facility signals renewed trust from global investors in Nigeria’s economy and reflects government priorities to drive private sector-led industrial growth.