Nigeria’s food market is projected to reach $233.53 billion by 2025, with an expected annual growth rate of 10.76% from 2025 to 2030, according to new industry statistics.
The forecast was disclosed by Paul Marz, Managing Director of Fairtrade, at the 10th German Agrofood and Plastprintpack Exhibition held at the Landmark Centre, Lagos. Marz, speaking on behalf of Fairtrade, welcomed exhibitors, visitors, and dignitaries to the international trade event, which focuses on agrofood, plastics, printing, and packaging.
Nigeria’s Investment in Agrofood and Packaging on the Rise
Marz highlighted Nigeria’s growing investments in agrofood and packaging technologies, revealing that the sector attracted £304 million in 2023. The country ranks as Africa’s second-largest investor in this industry, following South Africa, which recorded £398 million in investments.
The exhibition featured over 100 exhibitors from 12 countries, including China, Finland, France, Germany, India, Italy, Lithuania, the Netherlands, Nigeria, Poland, South Africa, and Turkey, showcasing tailored solutions for the Nigerian market.
Germany Strengthens Economic Ties with Nigeria
Germany, the guest of honor at the event, emphasized its commitment to fostering stronger business relationships in Nigeria’s agrofood and plastprintpack sectors.
The German Consul General in Lagos, Mr. Weert Börner, underscored the importance of sustainable economic partnerships, while Polish exhibitor Sandra Lisicka expressed optimism about the event’s potential to unlock business opportunities.
Food Security Remains a National Priority
Addressing the gathering, Nigeria’s Minister of Agriculture and Food Security, Sen. Abubakar Kyari, represented by Mrs. Omolara Oguntunyi, reaffirmed the government’s commitment to food security.
“In the pursuit of sustainable development, we gather at a critical juncture in our collective journey toward achieving food security, the cornerstone of economic stability and social well-being,” Kyari stated.
The exhibition, which concluded on Thursday, marked a decade of innovation and international collaboration in Nigeria’s agrofood and packaging industries.
