Government applauds GB Foods as committed investors in Nigerian economy

*The Nigerian Government hails GB Foods, a Spanish multinational with significant manufacturing investments, for the company’s commitment to long-term investment and shared prosperity in the West African country

Isola Moses | ConsumerConnect

The Federal Government has said Nigeria needs local and foreign investors who are committed to long-term investment and shared prosperity in the West African country.

Alhaji Mohammed Idris, Honourable Minister for Information and National Orientation, stated this Tuesday, February 28, 2024, in Abuja, FCT, while receiving a delegation from GB Foods, a Spanish multinational with significant manufacturing investments in Nigeria.

The Spanish Ambassador to Nigeria, His Excellency, Juan Ignacio Sell, and the Chief Executive Officer (CEO) of GB Foods Africa, Mr. Vicenc Bosch led the delegation.

Rabiu Ibrahim, Special Assistant to the Minister on Media, in a statement noted Idris said: “This is a very heartwarming conversation we’ve just had. These are stories that we need to share” in responding to presentations made by the delegation, outlining the ongoing progress of their multi-million-dollar investments in Nigeria.

The Minister also highlighted the efforts of the Bola Ahmed Tinubu Administration in tackling the country’s various challenges, while also working to ensure a conducive and enabling environment for private sector investment.

He noted: “We are working very hard to let Nigerians know what we are doing to tackle our challenges, and we are glad to have you as our partners in this regard.

“We want investors who are here for the long haul, as you are.”

In his remarks, the Spanish Ambassador described GB Foods as “a company that makes us very proud; they are 100 percent what we’d like to see in Spanish companies, in terms of capacity, investments, and social responsibility.”

Ambassador Sell further solicited the support of the Minister and the Ministry to amplify the investments and economic impact of companies like GB Foods, in Nigeria.

Also speaking during the visit, Mr. Bosch, GB Foods CEO for Africa, disclosed that the company built Nigeria’s first mayonnaise-producing factory in 2020, amidst the COVID-19 pandemic.

GB Foods is also the first large-scale tomato processing company in Nigeria to expand into backward integration, constructing a 600 metric tonnes per day processing plant while also developing 1,200 hectares of tomato farms, in Kebbi State, North-West Nigeria.

Bosch reiterated that GB Foods is fully committed to long-term investing, across the full agricultural value chain, in its areas of operation.

Vincent Egbe, CEO of the company for Nigeria, said: “We are not slowing down our investments in Nigeria.

“In fact, we are expanding and accelerating our investments, so that Nigeria can become not just self-sufficient in tomato production, but also become an export hub.”

According to him, GB Foods is developing the largest integrated tomato project in Africa, comprising farms, factories and value-addition capacity.

The statement said the visiting delegation took the opportunity to invite Minister Idris to the commissioning of the company’s new tomato-processing factory complex in Kebbi State, and groundbreaking for the next phase of expansion, at a ceremony scheduled to hold March 2024.

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