FG expresses optimism in cold chain industries for economy diversification

The Federal Government has expressed optimism that cold chain industries would assist in diversification of the economy and improve job and wealth creation if the public and private sectors can work together.
Minister of Industry Trade and Investment, Niyi Adebayo

Minister of Industry Trade and Investment, Niyi Adebayo

The Federal Government has expressed optimism that cold chain industries would assist in diversification of the economy and improve job and wealth creation if the public and private sectors can work together.
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Minister of Industry, Trade and Investment, Niyi Adebayo, who disclosed this, yesterday, at the fifth Cold Chain Summit and Exhibition, organised by fair trade Messe, with the theme: “Delivering Food and Nutrition Security Through Cold Chain In Africa,” held in Lagos, added that the development would enhance infrastructural development and technological innovations in the overall interest of Nigerian and African economy. He said: “To build a sustainable cold chain network in Nigeria and Africa, government is investing heavily to close the energy gap.

“Additionally, government is encouraging public-private partnerships to find lasting solutions to cold chain challenges in Nigerian and African trade.”

Adebayo said the Federal Government would continue to encourage innovative strategies in the main sub-sectors that constitute cold chains to mitigate the several detrimental economic and environmental effects.

In his welcome address, Managing Director of fairtrade Messe, Paul Maerz, said for the first time, the Micronutrient Fortification Index (MFI) Awards would be hosted alongside the event.
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According to him, with €346 million in 2021, Nigeria is the largest investor in food & packaging technology in Africa, ahead of Egypt, South Africa, Algeria, Morocco and all other African countries.

“With €165 million in 2021, Nigeria is the second largest importer of plastics technology in sub-Sahara Africa, just behind Egpyt (€202 million) and well ahead of South Africa. Nigeria’s plastics technology imports increased by an average of 25 per cent per year between 2016 and 2020.

“At €50 million in 2020, Nigeria ranks second in sub-Saharan Africa for imports of printing and paper technology, behind Egypt, but well ahead of other African countries.”

Maerz added that with €151 million in 2021, Nigeria is among the three largest investors in packaging technology in Africa, in line with South Africa and behind Egypt, ahead of Algeria, Morocco, Tanzania, Tunisia, Ethiopia, Ghana and Kenya.

“The enormous population growth from 206 million in 2022 to 411 million in 2050 demands high sustainable investments in Nigeria’s agrofood & plastprintpack industry.”
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