By Chinenye Anuforo
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, on Wednesday, August 20, declared that PepsiCo’s newly commissioned factory in Lagos, developed in partnership with global logistics firm DP World, is a major step towards sustainable industrialisation and regional export competitiveness for Nigeria.
The facility, which officially rolled out the first locally produced Cheetos snacks this week, reflects a $20 million investment and PepsiCo’s deepening commitment to Nigeria as a manufacturing base. For the first time, Nigerians can now buy cheese- and coconut-flavoured Cheetos made in Lagos, alongside Lay’s and Doritos, from a production line tailored to local tastes and regional markets.
Edun said the investment, which sources more than 90 per cent of its raw materials from local partners, including Northern Nigeria Flour Mills, Grand Cereals, and Babban Gona, showed that Nigeria is shifting from an import-dependent market to a competitive production hub under the African Continental Free Trade Area (AfCFTA).
“That is the road to sustainable industrialisation. When global brands choose to invest locally and source raw materials from Nigerian farmers and suppliers, it builds resilience, creates jobs, and unlocks export opportunities. Nigeria is becoming a competitive production hub, not just a consumption market,” Edun said.
He stressed that the reforms of the Tinubu administration, including fuel subsidy removal, foreign exchange liberalisation, and market-based pricing, were directly responsible for creating the enabling environment for such investments to thrive. “This plant shows the bold reforms we are driving to stabilise our economy and unlock sustainable growth,” he added.
Representing Lagos State Governor Babajide Sanwo-Olu, the Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose-Medebem, hailed the collaboration as transformative for Lagosians.
“The socio-economic impact of this collaboration will be transformative. By integrating PepsiCo’s extensive distribution network with DP World’s logistics and port expertise, we will see not only faster and more cost-effective movement of goods but also greater inclusion of Nigerian businesses in global supply chains,” she said.
Ambrose-Medebem emphasised that the project would expand access to international markets, create more jobs across logistics, transportation, sales, and marketing, and improve food security by reducing waste from perishables.
“Our priority is our people, how many jobs are created, how much value is added, and how many lives are impacted. That is how we will measure the success of this partnership,” she said.
Felix Enwemadu, General Manager of PepsiCo Foods Nigeria, said the factory and the rollout of Cheetos in Nigeria reflect the company’s long-term commitment to the country.
“Today’s launch of Cheetos is more than the arrival of a beloved global brand; it’s a celebration of PepsiCo’s belief in Nigeria’s potential,” he said. “By producing Cheetos locally and investing in community programmes, we’re creating jobs, empowering farmers, and helping communities thrive because our success is shared success.”
Enwemadu added that PepsiCo was not just investing in factories but also in people, citing the company’s partnership with WaterAid Nigeria, which has provided clean water, sanitation, and hygiene services to more than 54,000 people and hygiene education to over 800,000 since 2022.
Ajit Nair, Managing Director of FMCL Nigeria at DP World, described the partnership as a reflection of Nigeria’s central role in PepsiCo’s global strategy.
“Nigeria is PepsiCo’s most integrated market worldwide. With three facilities now running in partnership with DP World, we are bringing world-class logistics and supply chain efficiency that lower costs for businesses, improve competitiveness, and make products more accessible to consumers,” Nair said.
He added that the Lagos plant was designed not just for Nigeria but for West Africa and beyond. “This is not just about producing for the local market. It is about positioning Nigeria as a hub for exports under AfCFTA. That is the opportunity we see, and that is the future we are building towards,” he said.
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