An American company, Kimberly-Clark, has expanded operations in Nigeria with the opening of a $100 million (about N41.6 billion) manufacturing plant in the Ikorodu area of Lagos State.
The new manufacturing plant, commissioned by Vice President Yemi Osinbajo, produces Huggies diapers.
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It is expected to create 1,000 jobs for Nigerians.
Osinbajo said: “This plant, I am told, would serve Nigerian consumers with affordable high-quality diapers and I am told it will produce something in the order of about 600 million diapers every year.
“I am also told that with our seven million babies born every year, we are just two million behind the Chinese, so we are really the largest possible market for diapers in the world.
Lagos State Governor Babajide Sanwo-Olu promised to construct roads within the Odogunyan Industrial Estate in partnership with the federal government within one year.
The Minister of State for Budget and National Planning, Prince Clement Agba said, “For Kimberly-Clark to have invested over $100 million speaks of their commitment to Nigeria. For them to have built the factory during the pandemic speaks to their resilience.”