May 25, 2018 Last Updated 11:11 AM, May 23, 2018

Nigeria receives N7 billion injection from German firm

Nigerian curreny nairaABNABN - German multinational firm Beiersdorf Global has invested N7 billion in the Nigerian economy over the last 18 months.

The global skin care firm has also revealed that over 150 jobs have been directly created, along with 1,000 indirect jobs, following the N7 billion investment.

The announcement was made at the unveiling of Beiersdorf’s Nigerian office and production centre in Alausa, Lagos.

Executive board member Stefan De Loecker said: “Beiersdorf Global has been in Nigeria for over 50 years as a brand.

“But we believe that the best way to serve our consumers is really to be in Nigeria. The market size of Nigeria is huge.

“Nigeria will become 14th largest market in the world by 2050. What we do now is commercialise the international range of Nigeria, here in Nigeria.”

De Loecker unveiled the company's Nigerian operation alongside country manager of Beiersdorf Nigeria, Godwin Harrison, and executive secretary of Nigerian investment promotion commission, Yewande Sadiku, along with various other board members.



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