Dozy Mmobuosi, a Nigerian-born entrepreneur, is introducing a food processing firm to the nation, which would assist strengthen Nigeria’s economy and open up a lot of job possibilities. The Tingo Foods Processing Factory site in Onicha-Ugbo, Aniocha North Local Council of Delta State, where the groundbreaking ceremony recently took place, has started to undergo construction.
A food processing factory is being built by Tingo Foods, a division of Tingo International Holdings Incorporation. The initiative, which would cost roughly $1. 6 billion, will spare Africa from paying foreign exchange on imported finished food goods, according to a statement by Mmobuosi, the founder of Tingo International Holdings.
A Food Processing Factory
Additionally, it would promote intra-African commerce through the Africa Continental Free Trade Agreement and help Nigerian businesses offer high-quality and healthy food items.
Mmobuosi has committed to transforming the African food industry and providing the throngs of young people in Nigeria with direct jobs, significantly boosting the Nigerian economy and advancing the Sustainable Development Goals of the United Nations (SDGs). The SDGs seek to eradicate poverty, safeguard the environment, and guarantee everyone’s prosperity.
- Dozy Mmobuosi, is introducing a food processing firm to the nation.
- A food processing factory is being built by Tingo Foods.
- The SDGs seek to eradicate poverty, safeguard the environment, and guarantee everyone’s prosperity.
- In the upcoming 18 to 24 months, the facility is anticipated to start producing.
The facility will contribute to the achievement of SDGs 2 and 8, “Zero Hunger,” through the development of jobs and wealth. The growth of the African food processing sector in recent years has been slow, with an inefficient use of human resources and low efficiency.
According to a recent World Bank report, African farmers and agribusinesses could develop a trillion-dollar food market by 2030 if they have access to more funding, electricity, better technology, and irrigated land to grow high-value nutritious foods. They could also do this if African governments can collaborate more closely with agribusinesses to feed the continent’s rapidly expanding urban population.
In the upcoming 18 to 24 months, the facility is anticipated to start producing. The plant, according to Mmobuosi, is only the beginning of a multi-billion dollar investment Tingo International Holdings aims to make in the African food sector.
With the establishment of its food processing factory in Delta State, the business would relieve labor market congestion by adding no fewer than 12,000 direct jobs.
Mmobuosi is in the process of acquiring English Football League club Sheffield United with a buyout bid of £90 million, subject to the Owners’ and Directors’ Test set down by the EFL. The Times claims that the 43-year-old co-founded Tingo Mobile, an agri-fintech business with a mission to support African farmers.
