Tinubu’s Reform Agenda Yields Results as $20M PepsiCo-DP World Facility Launched in Lagos

The Federal Government has reaffirmed its commitment to economic reforms and private sector–driven growth as PepsiCo and DP World unveiled a $20 million production facility in Lagos, signalling renewed investor confidence in Nigeria’s economy.

This was disclosed in a statement by Finance Ministry’s spokesperson, Mohammed Manga.

Speaking at the launch, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, said the project was a clear demonstration of Nigeria’s competitiveness under President Bola Ahmed Tinubu’s reform agenda. This is not just about two companies. It is about what is possible when global business and Nigerian ambition come together, Edun said.

Our reforms have restored stability, unlocked investment, and are creating the conditions for rapid, inclusive growth, he added

From the private sector, Ahmed El-Sheikh, PepsiCo MENAPAK President, said: Nigeria is central to our strategy. This facility reflects our belief in the country’s future and our commitment to sustainable investment.

Mohammed Akoojee, CEO of DP World Sub-Saharan Africa, added: Nigeria is a key hub for Africa’s growth. Through this partnership, we are helping to build efficient, resilient supply chains that support long-term development.

The facility, which will produce PepsiCo’s iconic Cheetos brand using over 90% locally sourced inputs, is expected to create jobs, strengthen food security, and position Nigeria as a manufacturing and export hub within West Africa and AfCFTA.

This landmark investment is set to further boost economic growth, create new opportunities for Nigerians, and reinforce investor confidence in the country’s economy.