Kimberly Clark, the makers of Huggies, Kotex (sanitary pads), and other hygiene and personal products, has joined the ranks of foreign investors who believe in Nigeria as an investment destination with the opening of a world-class manufacturing plant in Lagos, Nigeria.
Kimberly Clark, founded in 1872, entered Nigeria about ten years ago, importing products manufactured elsewhere to trade in Nigeria. They have so far invested more than $100 million in Nigeria.
The opening of their own manufacturing plant in Lagos, the 64th in the world and the fifth in Africa, demonstrates not only Nigeria’s attractiveness as an investment destination, but also the interlink between trade and investment – the possibilities when a foreign investor first trades in a new market.
Meanwhile, when Kimberly Clark set out to build this manufacturing plant, they had no idea that a global pandemic would catch up with them. However, in a show of resilience, they persevered with the 18-month task of setting up even during the peak of the COVID pandemic.
The Nigerian Investment Promotion Commission (NIPC) is honored to welcome Kimberly Clark and be a part of their success story.
Mr Emeka Offor, acting Executive Secretary/CEO of NIPC, committed to providing Kimberly Clark aftercare services to support their operations on the sidelines of the launch.
Nigeria’s Vice President, Prof. Yemi Osinbajo, who attended the launch as a special guest of honor, expressed his government’s support for the project.
He stated that each new manufacturing plant is an important step toward the government’s belief that private investments, both domestic and foreign, are the key to rapid economic growth.
“By adding value through diversification, Kimberly-Clark West Africa has grown from just being an investor in Nigeria to a formidable partner in the actualisation of Nigeria’s economic objectives,” he said.
The company has led commendable social investments, such as sponsoring the education of the Dream catchers who danced here just moments ago. This factory, I am confident, will only be the beginning of increased investment in this and other sectors.”
Other dignitaries present at the event included Otunba Richard Adebayo, the Honourable Minister of Industry, Trade, and Investment, Dame Pauline Tallen, the Honourable Minister of Women Affairs, Prince Clem Agba, Minister of State, Finance, Budget, and National Planning, and Babajide Sanwo-Olu, Governor of Lagos, among others, all of whom expressed their support for the project.
In an additional show of support, both Prince Agba, Minister of State for Finance, Budget, and National Planning, and Governor Sanwo-Olu pledged a total of N2.5 billion to develop adjoining infrastructure leading up to the factory site.