Agriculture

€222bn food market: Agrofood Nigeria seeks value-chain investment

Photo caption from left: First Lady, Akwa Ibom State, H.E Helen Eno-Obareki; Managing Director, fairtrade Messe, Paul Marz; Commissioner for Agriculture and Food Systems, Lagos State, Ms Ruth Abiola Olusanya; Managing Director, Financial Derivatives Company Ltd, Bismarck Rewane; Ambassador, Kingdom of the Netherlands to Nigeria, H.E. Bengt van Loosdrecht and President, Manufacturers’ Association of Nigeria (MAN), Otunba Francis Meshioye, OFR, at the Opening Ceremony of the 11th edition of agrofood Nigeria 2026 Exhibition and Conference, on Tuesday, March 24, 2026, in Lagos.

 

By Charles Okonji

The Nigeria Agrofood market which has been estimated to be a €222 billion market in its 11th edition has called for massive investment in its value-chain development, as it will enhance productivity in the sector as the country is gradually tilting towards sustainable food sufficiency.

The 11th agrofood expo, which attracted exhibitors from all over the world was an opportunity for players and investors in the sector to network and acquire new efficient and cost effective technologies to maximise productivity.

Organised by fairtrade Messe, in conjunction with its Nigeria partner, Modion Communications, the exhibition covers the following sectors, food and beverage technology, food ingredients, packaging, and food & hospitality, with 137 exhibitors’ presence for the three days event.

On the theme of this year’s conference, “Achieving World-Class Food Security in Nigeria,” the key stakeholders explained that it is both timely and imperative, as it speaks directly to the structural realities of our economy and the urgent need to reposition agriculture not merely as a subsistence activity, but as a catalyst for industrial transformation, trade expansion, and inclusive economic growth.

They projected that Nigerian food market is to reach around 222 billion EUR by 2026, with strong annual growth expected in the years ahead.

In his keynote address, Governor Sanwo-Olu stated that “Lagos is not just Nigeria’s commercial capital, but Africa’s largest single food consumption market, adding that the State’s food economy has more than doubled in just six years, rising from N6.5 trillion in 2019 to over N16 trillion at present.

“Lagos alone consumes more than half of all food traded across the entire South-West.

“And as the state that contributes 22 per cent of Nigeria’s entire GDP, with our own economy projected to approach ₦66 trillion this year, we are the natural gateway and the biggest, most structured market any serious player in agro-processing, cold chain, packaging, or food technology can ever hope to reach on this continent.” Sanwo-Olu stressed.

On his part, Managing Director, Financial Derivatives Company Ltd, Bismarck Rewane who spoke about the adverse effects of the Middle East conflict on Nigeria’s agric sector, noted that Nigerians should prepared for the worst to come because of the spiral economic effects on foods locally.

Regrettably, the President of the Organization for Technology Advancement of Cold Chain in West Africa (OTACCWA), Mr. Alexander Isong, lamented that cold chain as an industry have seen very little penetration into the Nigerian economy, as  it has been unable to enjoy advantages that cold-chain brings.

“But here is the honest truth; the real bottleneck is no longer on the farm, it is everything that happens after the harvest.

“Last year alone, Nigeria lost between ₦3.5 trillion and ₦5 trillion that is 30 to 40 million metric tonnes of food to post-harvest waste, mainly because of poor storage and broken logistics. On top of that, over 97 per cent of our agricultural exports still leave the country completely unprocessed.” He averred.

In his remarks, Otunba Francis Meshioye, MAN President highlighted that global hunger remains stubbornly high, stating that available data show that about 733 million people were facing hunger in 2023.

“According to the United Nations World Food Programme. “Our primary concern is that the African region is experiencing the most severe hunger.” Meshioye affirmed.

The President of the Organised Private Sector (OPSNACCIMA National President reaffirmed that achieving world-class food security in Nigeria is both possible and within reach. “However, he noted that it will require intentionality, sustained investment, and a shared commitment to transforming our agricultural sector into a globally competitive, value-driven industry.

The 11 edition proudly hosted exhibitors from four continents and fifteen countries – Austria, Belgium (represented with official pavilion), China, Denmark (represented with official pavilion), France, Germany (represented with official pavilion), India, Malaysia, the Netherlands (represented with official pavilion), Nigeria, Poland, South Africa (represented with official pavilion), the United Arab Emirates, the United Kingdom, and the United States of America.

The fairtrade Messe GmbH’s 2026 edition of the 11th anniversary of agrofood & plastprintpack Nigeria exhibition and conference in Lagos on Tuesday, attracted eminent personalities, which includes, the Governor of Lagos State, Mr. Babajide Olusola Sanwo-Olu; represented by Commissioner for Agriculture and Food Systems, Lagos State, Ms Ruth Abiola Olusanya; First Lady, Akwa Ibom State, H.E Helen Eno-Obareki; Managing Director, fairtrade Messe, Paul Marz; Managing Director, Financial Derivatives Company Ltd, Bismarck Rewane; representative of the Oyo State Government, Chief Debo Akande; Ambassador, Kingdom of the Netherlands, H.E. Bengt van Loosdrecht; President, Manufacturers’ Association of Nigeria (MAN), Otunba Francis Meshioye, and the representative of Nigeria Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), National President, Engr. (Dr.) Jani Ibrahim, mni, OON, emphasized that Nigeria is a key agro-allied nation with immense potential.

 

 

 

 

 

 

Related posts

Sanwo-Olu to lead the 10th agrofood, plastprintpack Nigeria 2025

Editor

Stakeholders push innovation, private capital to unlock  livestock potential

Editor

Mouka partners Lagos Food Bank to help poor

Editor

Sustainable petrol supply nationwide remains crucial, expert says

Editor

Lagos Govt raising young farmers to replace ageing ones

Editor

Shortages in data plaguing Nigeria agriculture sector – Experts

Editor