With a figure of €346 million, Nigeria 2021, for the very first time, became the largest investor when it comes to food and packaging technology in Africa, and that too ahead of Egypt, which stood at €341 million, and South Africa, which rolled out a figure of €293 million.
Steep Increase: It is well to be noted that Nigeria’s food production has seen a growth of 39.6% in the past few years, from €42.3bn to €62.6bn.
With a figure of €165 million in 2021, Nigeria has gone on to become the second-largest investor in plastic technology across Africa, behind Egypt- €202 million and South Africa- €144 million. Apparently, Nigeria’s plastics technology imports saw a rise of an average of 25% per year between 2016 and 2021.
With €64 million in 2021, Nigeria stands second across Sub-Saharan Africa when it comes to imports of printing plus paper technology, behind South Africa at €152 million and Egypt at €195 million. The vast population growth from 206 million that was seen in 2022 to 411 million that is expected in 2050 goes on to demand high sustainable funding as far as the country’s plastprintpack and agrifood sectors are concerned.