Inyene Agro Processing Factory Ltd has secured a ₦150 million investment from GBFoods Africa to expand cassava processing operations and strengthen food systems in Nigeria, according to Leadership. The funding is expected to raise processing capacity, cut post-harvest losses and improve access to nutritious food in underserved communities.
A Fortified Staple
The Akwa Ibom-based agribusiness runs a modular facility producing Vitamin A biofortified cassava flakes, sold as garri, aimed at addressing micronutrient deficiencies among vulnerable groups, the Leadership report noted. The firm's founder, Blessing Akpan, said the funding would expand capacity while enabling diversification into other cassava derivatives.
Closing a $500 Million Gap
The CEO of GBFoods Nigeria, Vincent Egbe, said Nigeria produces over 55 million metric tonnes of cassava each year yet still imports cassava derivatives worth more than $500 million, calling the gap between rural production and industrial demand a critical one to close, according to Leadership. The CEO of GBFoods Africa, Vicenç Bosch, framed the investment as part of a wider commitment to enterprises capable of transforming local food systems across the continent.
Why It Matters
Egbe added that converting raw cassava into industrial and export value can lift farmer incomes and reduce pressure on the naira, with the investment aligned to global commitments under the Nutrition for Growth agenda. Each tonne processed at home is a tonne of derivative the country does not have to import.
Garri is a daily staple in Lagos kitchens and one of the commodities FoodPrices Nigeria tracks across its market network. Domestic processing capacity that reduces reliance on imported derivatives is part of the supply picture that shapes what households eventually pay.