PepsiCo, DP World launch $20 million manufacturing facility in Lagos
The Lagos facility aims to strengthen Nigeria’s exports, positioning the country as a hub within West Africa and AfCFTA.
Global food and logistics companies PepsiCo and DP World have inaugurated a $20 million production facility in Lagos, a move expected to strengthen Nigeria’s position as a manufacturing hub in West Africa.
The facility, which will produce PepsiCo’s Cheetos snack brand using more than 90% locally sourced raw materials, is projected to create jobs, enhance food security, and expand export opportunities within the African Continental Free Trade Area (AfCFTA).
During the launch of the facility, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, described the launch as a clear demonstration of the country’s competitiveness under President Bola Ahmed Tinubu’s reform agenda. “This is not just about two companies. It is about what is possible when global business and Nigerian ambition come together, Edun said. Our reforms have restored stability, unlocked investment, and are creating the conditions for rapid, inclusive growth,” added Edun, according to an official social media post by the Federal Ministry of Finance, Nigeria.
FEDERAL MINISTRY OF FINANCE, ABUJA
— Federal Ministry of Finance (@FinMinNigeria) August 21, 2025
PRESS RELEASE
TINUBU'S REFORM AGENDA YIELDS RESULTS AS $20M PEPSICO-DP WORLD FACILITY LAUNCHED IN LAGOS
The Federal Government has reaffirmed its commitment to economic reforms and private sector–driven growth as PepsiCo and DP World… pic.twitter.com/kvINNG1uD3
Ahmed El-Sheikh, CEO, PepsiCo - Middle East, North Africa, and Pakistan Foods (MENAPAK) and Egypt, said, “Nigeria is central to our strategy. This facility reflects our belief in the country’s future and our commitment to sustainable investment.”
Mohammed Akoojee, CEO of DP World Sub-Saharan Africa, highlighted Nigeria’s role in regional growth, saying, “Nigeria is a key hub for Africa’s growth. Through this partnership, we are helping to build efficient, resilient supply chains that support long-term development.”
Officials said the investment signals renewed investor confidence in Nigeria’s economy, aligning with the government’s ongoing reform efforts to promote private sector–led growth.
