Monday, October 18, 2021

    With 212,543,037 Growing Population, Analysts See Nigeria’s Food Production Hit €62.6bn By 2024

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    Naija247news Editorial Team
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    Despite security challenges suppressing its food production, new data shows that Nigeria’s food production grew by 39.6 per cent in recent years, from €26bn in 2016 to €36.3bn in 2020.

    The current population of Nigeria is 212,543,037 as of Tuesday, October 5, 2021, based on Worldometer elaboration of the latest United Nations data.

    Production is expected to rise by 48 per cent between 2021 and 2024, from €42.3bn to €62.6bn.

    The data from Euromonitor International shows that with €294 million in 2019, Nigeria is the second largest investor in food & beverage technology in sub-Saharan Africa.

    Its investments into technologies from around the globe increased by an average of 6.7 per cent per year between 2015 and 2019.

    The main supplying countries are Italy, China, India, Germany, Austria, United Kingdom, Switzerland, Turkey and the Netherlands – in this order.

    It is on this background, that German trade show specialist Fairtrade Messe is set to host the 6th edition of the agrofood & plastprintpack exhibition and conference in Nigeria.

    The conference provides a networking opportunity for international and local industry players and will also showcase a wide variety of products ranging from agrofood processing & packaging machinery to food ingredients. 
Speaking on the upcoming event,Managing Director at fairtrade, Paul Maerz, outlines: “we believe that the agrofood & plastprintpack Exhibition and Conference is essential for the Nigerian trade network. It presents a unique opportunity to meet with suppliers, source new products, network with existing and new business contacts as well as a place to be inspired and learn.”

    The 3-day programme will also feature a panel of discussion led by Nigerian & European experts on “Agro-Tech & Food Processing, Finance & Digitalization, Plastics: Stretching the Potential”.

    The event is set to host exhibitors from 11 countries including Belgium, Germany, India, Italy, Lebanon, Nigeria, Portugal, Saudi Arabia, Spain, Turkey, and USA. Also present at the exhibition are official country pavilions from Belgium, and Germany.

    The German trade show specialist fairtrade looks back on 30 years of experience in organizing leading international events for professionals in the agrofood & plastprintpack industry across continents. Leveraging innovative products and excellent service, fairtrade continues to organize professional platforms for valuable business contacts between exhibitors and event attendees.

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