Finance and Coordinating Minister of the Economy, Wale Edun, has said that recent economic reforms are beginning to yield results, citing PepsiCo's $20 million investment in a new snacks facility in Lagos as proof of growing investor confidence in Nig…  | By Busola Bamidele on August 21, 2025 | Finance and Coordinating Minister of the Economy, Wale Edun, has said that recent economic reforms are beginning to yield results, citing PepsiCo's $20 million investment in a new snacks facility in Lagos as proof of growing investor confidence in Nigeria. Edun explained that tough measures such as fuel subsidy removal, foreign exchange unification, and market-driven pricing have stabilized the economy, restored transparency, and saved revenues equal to 5% of GDP. These funds, he said, are now being redirected to critical sectors including infrastructure, healthcare, and education, creating a stronger base for small businesses to thrive. Read also: "With GDP projected to grow by 5%, the pillars of our reforms—diversification, industrialisation, and job creation—are opening opportunities for entrepreneurs and SMEs," Edun stated. He added that investments like PepsiCo's new facility will not only create direct jobs but also stimulate demand for local raw materials, logistics, packaging, and services, providing significant opportunities for Nigeria's growing SME sector. | | | |
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