British beverage maker Twinings Ovaltine is pumping a fresh £24 million into its Lagos manufacturing facility in an efforts to strengthen the bilateral trade between Nigeria and the United Kingdom.
This is disclosed in a statement a statement issued by the UK’s Department of Business and Trade.
It said that the investment will create over 100 direct jobs and boosting the company’s exports across West Africa.
Peter Kyle, the UK’s business and trade secretary, said that with bilateral trade now at an all-time high of £8.1 billion a year, the UK and Nigeria are showing how countries grow faster when they grow together.
He emphasised that as the two economies continue to enhance cooperation and trade relations, the investment plans will provide jobs for both countries while transforming lives.
“With Nigerian firms creating jobs across the UK and British businesses expanding into one of the world’s fastest-growing markets, our partnership is strengthening both economies and delivering real benefits for people in both countries,” Kyle said.
Meanwhile, located on Wempco road, Ogba, Lagos, Ovaltine has been available and popular in Nigeria since the 1930s via imports.
The manufacturing facility marks the commencement of direct, local manufacturing of the brand by Twinings.
