Nigeria has emerged as the second-largest investor in plastics technology in Africa with €143 million pumped into the industry in 2022, a report from the Mechanical Engineering Industry Association (VDMA), has revealed.
The report added that investments in food and packaging technology have risen significantly in the last few years, amounting to €363m last year.
Nigeria now stands as Africa’s second-largest investor, trailing only South Africa with €381m and leading Egypt with €319m.
Nigeria also leads in packaging technology investments in Africa, with €183 million in 2022, surpassing South Africa (€175) million and Egypt (€162 million).
The industry recorded an annual growth rate of 17.6 per cent between 2016 and 2022.
Building on the fast technological growth recorded by Nigeria, global technology leaders from 16 countries, will arrive in Lagos for a three-day conference from the 26th to 28th of March for the ninth edition of the agro-food and plastprintpack Nigeria conference.
Organised by the German trade show specialists, fairtrade Messe, the international exhibition and conference will be held at Landmark Centre in Victoria Island, pioneering global innovations for Nigeria’s agro-food and plastprintpack industry.
According to the organisers, every aspect of the conference has been meticulously enhanced to deliver an unparalleled experience, surpassing previous benchmarks.
Over 125 exhibitors from different countries will showcase tailored products and solutions for the Nigerian market and active participation of key ministers, both at the federal and Lagos state levels are expected.
