The Federal Government has revised its 2025 Gross Domestic Product (GDP) growth projection upward to 5%, from the earlier 4.6%, citing ongoing reforms and rising investor confidence. This contrasts with the International Monetary Fund's (IMF) forecast of 3.4%.
Minister of Finance, Wale Edun, disclosed this during the launch of PepsiCo's Cheetos plant in Lagos, where 90% of raw materials will be sourced locally. He noted that the project reflects President Bola Tinubu's industrialisation and job creation agenda.
"This investment not only creates jobs but also positions Nigeria as a regional manufacturing hub," Edun said.
Lagos Governor, Babajide Sanwo-Olu, lauded PepsiCo's collaboration with DP World, describing it as a boost for jobs, supply chains, and opportunities for local entrepreneurs.
PepsiCo's General Manager, Felix Enwemadu, emphasized the company's commitment to community development, while DP World's Ajit Nair highlighted Nigeria as PepsiCo's most integrated market in West Africa.
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