By Omolola Pedro
Tingo Foods, a subsidiary of Tingo International Holdings Incorporation, has commenced the construction of a US$1.6 billion food processing factory in Onicha-Ugbo, Aniocha North Local Council of Delta State, FarmingFarmersFarms reports.
According to Dozy Mmobuosi, the founder of Tingo International Holdings, the project would cost approximately US$1. 6 billion, create no fewer than 12,000 direct jobs, and save Africa from paying foreign exchange on imported finished food products. Using the African Continental Free Trade Agreement (AfCFTA), Mmobuosi noted that the factory would improve intra-African trade and provide Nigerians with high-quality and nutritious food products.
Additionally, the facility’s job creation and wealth creation would promote the realisation of United Nations Sustainable Development Goal (SDG) 8, which is Decent Work and Economic Growth, and Sustainable Development Goal (SDG) 2, which is Zero Hunger.
Mmobuosi noted that the facility was the first phase of a multi-billion dollar investment that Tingo International Holdings plans to bring alive in the African food industry.
With the establishment of its food processing facility in Delta State, the company would be able to decongest the labour market by creating no less than 12,000 direct jobs for Nigerians.