Folay West African Limited Invests ₦11bn for Local Manufacturing in Nigeria

News in Brief:

-Folay West African Limited is investing ₦11bn to boost local manufacturing as it sources grains from Nigerian farmers.

-The project is expected to strengthen rural livelihoods, deepen supply chains, and support a more resilient, Made-in-Nigeria agricultural economy.

Folay West African Limited is investing ₦11 billion in Nigeria to boost local manufacturing and source grains locally. According to a press release from several government-related social media handles, the investment will create jobs through backward integration.

Nigeria’s Finance Minister, Hon. Wale Edun, met with the company’s management to demonstrate the country’s support of this financial injection in the economy. He stated that private-sector initiatives can drive industrialisation, deepen supply chains, expand exports, and promote value-added activities.

The company’s director, Olayele Oladunni, announced in March 2025 that it is introducing a range of cereals and snacks produced entirely from locally sourced raw materials under its Pocco brand. 

The company’s production facility is situated inside the Lekki Free Zone and will leverage this location to promote Made-in-Nigeria products across African markets. These products will be designed in accordance with international standards and regulations.

It is launching Whole Grain Corn Flakes, a healthy breakfast option made from premium Nigerian maize; Pocco Bunnies, a unique blend of maize, oats, and chocolate; Pocco Puffs, a range of corn-based snacks available in five exciting flavours; and Pocco Twists, a delicious cereal variety catering to diverse consumer preferences.

“At Folay Industries, we are creating value that benefits everyone along the supply chain, from the farmer in the field to the family at the breakfast table,” Oladunni had said.

“Our vision is to promote food security locally while ensuring Nigerian products take their rightful place in international markets. With Folay Industries, we are not just producing food; we are redefining the possibilities of Nigeria’s agricultural wealth,” he added.

Beyond industrial expansion, investments like this hold enormous potential for Nigeria’s smallholder farmers and the wider economy. 

Sourcing grains locally creates a steady demand for maize and other staples, giving smallholders guaranteed markets, better prices, and stronger bargaining power. With improved access to buyers, farmers can scale production, invest in better inputs, and increase their household income. 

At the national level, these backwards-integration initiatives reduce import dependence, strengthen rural economies, stimulate agribusiness growth, and help Nigeria capture more value within its borders—unlocking a more resilient and inclusive agricultural economy.