P&G, Colori partner for indigenous production in Nigeria
Leading consumer goods company in Nigeria, Procter & Gamble (P&G), has partnered with Colori for indigenous production of its oral care products, OralB.
This partnership signifies a new investment of $35Million dollars, consolidated with a contract signing hosted by the Governor of the Central Bank of Nigeria (CBN).
The office of the CBN Governor has expressed support with P&G on its localisation journey which will further promote localisation & technology advancement in Nigeria through strategic private-public collaboration. It also reiterates P&G’s commitment to providing quality products that improve everyday life whilst having a positive impact on the economy.
Commenting on the matter, the Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele said, “It is gratifying to have been part of this localisation journey with P&G. They have also indicated to me that this is the first of many such projects and we are ready to support them to achieve these localisation objectives’. CBN encourages other multinationals to follow suit and collaborate with partners to strengthen industrialisation in Nigeria.
P&G Managing Director for Nigeria, Mr. Adil Farhat disclosed that “as a company focused on being a ‘force for good and a force for growth’, P&G will continue to partner with the Nigerian government as we increase our economic and social footprint, in support of the diversification and localisation objectives of Nigeria”.
He also added that, “P&G is excited to partner with Colori on this project and is committed to investing in Nigeria and Nigerian talents now and for the long haul. On behalf of the entire staff of P&G, I would like to say a big thank you to the Governor for hosting us today as we seal this agreement”.
Also speaking at the event, the Managing Director of Colori Cosmetics Nigeria, David Feng shared that Colori Cosmetics (Longrich) is delighted with the opportunity to sign the contract with the Nigeria-Lekki FTA in 2017 to build its first Artificial intelligence plant in Nigeria under the China One Belt and Road Initiative.
“The cooperation with Procter and Gamble (P&G) particularly is a huge honour. We see it as a priceless opportunity to grow with Nigeria as we aim to be one of the top-class intelligent plants in Nigeria and in the whole of the African market at large. We aim to work with hundreds of local businesses to provide a healthier lifestyle to the people”.
One of the partnership’s objectives is to create jobs, diversify the economy, and creates an export hub of manufactured goods in Nigeria as well as to strengthen the communities in which P&G operates.
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