• Wale Edun
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, said that Nigeria is shifting from an import-dependent market to a competitive production hub under the African Continental Free Trade Area (AfCFTA).
The Minister references PepsiCo which sources more than 90 percent of its raw materials from local partners including Northern Nigeria Flour Mills, Grand Cereals, and BabbanGona.
Edun stated that the $20 million factory in Lagos shows that Nigeria is shifting from an import-dependent market to a competitive production hub under the African Continental Free Trade Area (AfCFTA).
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.
He said: ” 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.”
“That is the road to sustainable industrialisation. When global brands 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.
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.”