The Federal Government has reaffirmed its commitment to economic reforms and private sector–led growth as PepsiCo, in partnership with global logistics leader DP World, commissioned a $20 million production facility in Lagos. The project, launched under President Bola Ahmed Tinubu’s reform agenda, signals renewed global investor confidence in Nigeria’s economy. Finance Minister and Coordinating Minister of the Economy, Wale Edun, hailed the development as a symbol of what can be achieved when international business aligns with Nigerian ambition, noting that reforms are restoring stability, unlocking investment, and laying foundations for inclusive growth.
From the private sector, PepsiCo MENAPAK President, Ahmed El-Sheikh, described Nigeria as central to PepsiCo’s growth strategy, stressing that the investment reflects long-term confidence in the country’s future. DP World Sub-Saharan Africa CEO, Mohammed Akoojee, added that Nigeria is a strategic hub for Africa’s growth, and the partnership aims to build efficient, resilient supply chains to support sustainable development.
The new plant will produce PepsiCo’s flagship Cheetos brand, sourcing over 90 percent of inputs locally. It is expected to create jobs, strengthen food security, and position Nigeria as a manufacturing and export hub under AfCFTA, further cementing Nigeria’s role as an engine of regional growth.
