The Minister of Agriculture and Food Security, Senator Abubakar Kyari, warmly urges foreign cold storage infrastructure companies to come and invest in Nigeria’s cold chain sector and potentially reap the profits.
Kyari made the call during the 7th West African Cold Chain Summit and Exhibition (WACCSE 2025) and the 10th Agrofood and Plastprintpack Nigeria exhibition at the Landmark Conference Centre in Lagos.
The exhibitors came from Austria, Bulgaria, China, Poland, Germany, France, India, Italy, Lebanon, the Netherlands, South Africa, South Korea, Spain, Turkiye, Taiwan and the United Kingdom.
Kyari, who was represented by Mrs. Omolara Abimbola-Oguntuyi, noted that Nigeria produces approximately 65 million tons of food each year, but 40 percent of this is lost due to inadequate cold storage infrastructures.
“This loss amounts to an economic impact of approximately N3.5 trillion, equivalent to roughly $8 billion.
“Given the post harvests’ economic losses, Kyari said, “It is time to encourage foreign investors and key stakeholders to invest in the cold chain sector, which can be highly profitable and reap the economic benefits that abound with the public and private sectors working together to uplift the cold chain industries to international standards.”
Governor Babajide Sanwo-Olu declared the exhibition open.
He noted that Nigeria is projected to become Africa’s largest consumer market by 2050.Sanwo-Olu, who was represented by Bimbola Salu-Hundeyin, Secretary to the Lagos State Government, said: “This platform is not just an exhibition, it is a catalyst for innovation, technology, and investment in agro-processing, food production, packaging, and plastics.
“Lagos remains a hub for agribusiness, food processing, and manufacturing because of its strategic location, vibrant consumer market, and expanding industrial base.”
Given the post harvests’ economic losses, Kyari said, “It is time to encourage foreign investors and key stakeholders to invest in the cold chain sector, which can be highly profitable and reap the economic benefits that abound with the public and private sectors working together to uplift the cold chain industries to international
He urged all the participants to seize the moment to forge partnerships, innovate solutions, and drive sustainable growth, not just for Lagos but for Nigeria and Africa as a whole.
The Consul-General of Germany in Nigeria, Mr. Weert Borner, pointed out that the challenges Nigeria is currently facing regarding food insecurity are insecurity issues, high costs of food, low productivity, various pests, poor logistics, and climate change.
The German envoy assured that the German government is ready to support agro-food in Nigeria to boost food security for the Nigerian population.
He emphasized that Nigeria is one of six Sub-Saharan countries that have been on the list for intensified cooperation in agriculture for years already.”Germany- both government and private sector- is cooperating with Nigeria on political, scientific, and economic agricultural issues,” he said.
Earlier in his welcome address at the opening ceremony, Paul Marz, Managing Director of Fairtrade Messe – organizers of the exhibition, noted that the 2025 edition marks a significant milestone as Fairtrade Messe GmbH celebrates the 10th anniversary of this pivotal industry gathering.
He maintained that the event has become a cornerstone for innovation, collaboration, and growth within Nigeria’s agro-food and plastprintpack sectors over the past decade.
The Consul-General of the Kingdom of the Netherlands, Michel Deelen, pointed out that the Netherlands has made significant inroads in Nigeria’s agro-food sector and has remained Nigeria’s best trade partner for decades.
He discussed the opportunities the Netherlands offers Nigeria to enhance its agricultural sector.
Other speakers who spoke at the event included Mr. Alexander Isong, President of the Organisation for Technology Advancement of Cold Chain in West Africa (OTACCWA); Otunba Francis Meshioye; and Michal Cygan, Ambassador-Designate of the Republic of Poland.