Food Processing Industry on a Boom in Nigeria As Investments Go Up To €331m  

Mr. Martin Marz who is the Director Fairtrade at Nigeria agro-food and “plastprintpack” Nigeria 2015 exhibition provided some interesting and impressive facts and figures regarding food and packaging machinery imports by Nigeria. The facts show sharp increase in the value which is being spent to import food and packaging machines. As per his statements, Nigeria’s biggest segment in industrial sector was food and beverages sector which had a contribution of up to 22% adding approximately 16 billion Euros aggregate output. In the share the food and beverages share was 4.6% to the GDP of Nigeria.
It was further added that in 2013 total consumer expenditure was around 80 billion Euros for food and beverages industry. Additionally a 16% increase was experienced after rebasing of GDP. As per the news the sector had generated over 1.5 million jobs in the country which gave employment to 5% population of Nigeria.
The facts and figures clearly show great potential in Nigerian Food Packaging and Processing Industry.