Governor Sanwo-Olu commissions Yikodeen factory; West Africa's largest safety footwear manufacturing factory
The event is expected to mark a pivotal moment not only for Yikodeen but for Nigeria's broader industrial ambitions. With the completion of this expansion, Yikodeen now operates the largest safety footwear manufacturing plant in West Africa — a 120,000-square-foot, state-of-the-art facility capable of producing 5,000 pairs of safety boots per day. This represents a 250-fold increase from the company's humble beginnings in 2016, when daily output stood at just 20 pairs.
Guests at the upcoming ceremony will include traditional rulers such as His Royal Majesty Oba Adeyeye Enitan Ogunwusi, CFR, the Ooni of Ife, and His Royal Majesty Ogiame Atuwatse III, CFR, the Olu of Warri. Also expected is the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe, whose presence underscores the Board's continued commitment to indigenous capacity development in key industrial sectors. The Chairman of Yikodeen's Board of Directors, Engr. Ajibola Akindele, MFR, will serve as Chief Host and welcome guests alongside Yikodeen's leadership and team.
According to Yikodeen's Founder and CEO, Atunde Shamsideen Olayinka, the commissioning is more than a ribbon-cutting event. 'It is a declaration of intent; a symbol of what is possible when visionary thinking, local talent, and long-term investment converge in the service of national development,' he said. 'We are not just opening a factory; we are unlocking new possibilities for industrial self-reliance in Nigeria and across Africa.'
The new facility is equipped with some of the most advanced manufacturing and quality control technologies available globally. These include automated European production lines, precision-based quality assurance systems, and fully integrated production processes that support a diverse product range: industrial safety boots, educational footwear, and the fast-growing Yiko Plus athletic shoe line.
The scale and efficiency of the new factory reflect a deliberate strategy to reduce Nigeria's dependence on imported safety footwear while promoting local job creation. Since the start of the expansion phase, Yikodeen has added over 180 skilled roles and anticipates hiring at least 20 more as operations scale to full capacity. Moreover, the factory's increased output is projected to inject over ₦5 billion annually into the Nigerian economy through direct employment, local procurement, and regional supply chain engagement.
The expansion was made possible through a strategic investment from Aruwa Capital Management, one of Nigeria's leading women-founded and women-focused private equity funds. While the financial terms were not publicly disclosed, the investment is widely believed to be in the multi-million-dollar range and was deployed to accelerate Yikodeen's digital transformation, factory upgrade, and market expansion initiatives. This capital infusion also enabled the company to deepen its local sourcing capabilities and position itself for entry into key regional markets.
Speaking on the anticipated commissioning, Adesuwa Okunbo Rhodes, Founder and Managing Partner of Aruwa Capital, noted: 'Yikodeen's trajectory is a model of what's possible in Nigerian manufacturing. We invested not just in a company, but in a mission to demonstrate that world-class products can be made locally, at scale, by Nigerians.'
The company's leadership has also emphasized the social impact of its journey. As part of the commissioning event, Yikodeen will present a short documentary video showcasing the company's transformation from a microenterprise in 2016 to a continental manufacturing leader in 2025. A separate segment will highlight the company's social investments, including training programs for youth, mentorship opportunities for aspiring manufacturers, and ongoing support for SMEs navigating capital access.
Yikodeen's operations have been consistently aligned with Nigeria's Local Content Development policy, and it remains the only safety footwear manufacturer certified by the NCDMB for supplying safety boots to the Nigerian oil and gas industry. This exclusive positioning has allowed the company to win major contracts, deepen its compliance infrastructure, and elevate local content as a standard of competitiveness.
In addition to the recommissioning ceremony, invited guests will be treated to a guided tour of the factory's new production lines and its experiential product booths, showcasing Yikodeen's flagship collections and highlighting innovations in durability, ergonomics, and safety design. There will also be a Q&A session and live brand storytelling led by the company's executive team to provide a deeper understanding of Yikodeen's vision, milestones, and market strategy.
Governor Sanwo-Olu is expected to speak on the significance of industrial development in Lagos State and the importance of supporting homegrown enterprises that are committed to manufacturing excellence. His participation reflects the Lagos State government's ongoing interest in catalyzing local production and job creation as key drivers of economic transformation.
Yikodeen's recommissioning is not just a moment for celebration; it is an invitation to stakeholders, partners, and policymakers to reimagine Nigeria's future as a destination for industrial excellence. The company has already signaled its intention to explore export opportunities to neighboring West and Central African countries with its new infrastructure designed to meet the compliance and volume requirements of both domestic and international markets.
The event will begin at 11:00 AM on June 24 and will run through 2:00 PM at the company's headquarters and production site located at 8 Adekan Akinsanya Street, Isolo, Lagos. Attendance is strictly by invitation, although interested stakeholders may request access by emailing info@yikodeen.com. Requests will be subject to review and confirmation.
The recommissioning of Yikodeen Factory 2.0, under the theme 'The Walk That Matters' — will serve as a reminder that Nigeria can produce, innovate, and lead, not just in theory but in practice. For the Yikodeen team, it is not merely the opening of a facility; it is the launch of a renewed national promise, one stitched, laced, and walked in every pair of boots they make.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Los Angeles Times
an hour ago
- Los Angeles Times
Opinion: Offshore balancing – The proper solution to Trump's whims with Europe
Over the past few months, Trump has repeatedly threatened to withdraw the United States from NATO, citing concerns about a lack of European defense investment. Later on, at the Shangri-La Dialogue in Singapore, Secretary Hegseth confirmed Trump's sentiments, stating that they were 'pushing our allies in Europe to own more of their own security — to invest in their defense, things that are long overdue' so 'we can increase our focus on the Indo-Pacific, our priority theater.' This is the perfect time to begin planning a new grand strategy, one that replaces our long history of firm interventionism in favor of a restrained approach that preserves US national security, reduces costs, and empowers allies. The most promising option appears to be offshore balancing. What is Offshore Balancing? Offshore balancing is a selective, interventionist approach. It advocates for withdrawal of US forces from regions without a great power or a firm national security interest. Instead, the United States would equip and strengthen local forces – with arms, training, and intelligence – as a counterweight to regional powers. But, if regional allies are ineffective in deterrence or a local country grows too powerful, the United States would intervene into the region to protect its and its allies' security. Europe is a perfect place for the United States to exercise restraint. Due to large equipment and personnel losses, Russia is weak and unable to pursue attacks against other nations. This presents a unique window of opportunity for the US to shift the burden of defense onto Europe. Why Offshore Balancing? Currently, the United States faces threats in three, main global theaters: the Persian Gulf, South China Sea, and Europe. For years, this 'three-war standard' has significantly strained the US military and industrial base. In fact, signs of trouble have already started to show. The number of defense contractors in the US has dwindled to less than 10 due to consolidation, thus hurting product quality, while the United States is struggling to 'to maintain robust munitions levels' and supply our allies adequately. At the same time, our allies are particularly under-equipped. Europe is overly dependent on the United States for its technological capabilities, has limited interoperability across weapon systems, and invests a limited amount of money into its own defense. Overall, this situation is dangerous as it provides our adversaries – China, Russia, North Korea, and Iran – an opportunity to mount a challenge against the liberal international order the United States has worked so tirelessly to create. Under current geopolitical situations, Washington would be unable to defend all regions simultaneously, forcing a tradeoff between abandoning hegemony or quickly ramping resources (at a great financial cost) to defend regional allies. By employing a grand strategy of offshore balancing in Europe, the United States can find a balance between credible deterrence and military overstretch. First, by significantly withdrawing from Europe, the US military would free up resources (weapon systems, personnel, money) that they can instead commit against China, the biggest threat to US national security. While Russia does pose considerable risks to the US, its status quo engagement in Ukraine limits its overall influence and strong regional allies can counterbalance against them. Additionally, in Europe, the United States would shift some of the defense burden to its allies, forcing them to act as a unified front (something lacking right now) and work together for collective security. If successful, in the advent of a conflict, Europe can support the US military by leveraging its own capabilities (weapons production, technology sharing, etc) and taking control of a majority of the fighting in Eastern Europe, thus maintaining US hegemony. Concerns? At first glance, this proposal may seem as if we are abandoning NATO and endangering our alliances globally. However, the baseline for comparison shouldn't be the status quo, rather the future. Due to military overstretch, the ability for the United States to maintain military presence in Europe is rapidly decreasing, negatively affecting our ability to protect our alliances in the long-term. Offshore balancing, if designed right, can not only address the aforementioned long-term threats to our alliances, but can also cushion any international fallout the US might face. By gradually withdrawing US forces, our European allies can be given plenty of time to ramp up their own defense production and military capabilities. By maintaining our nuclear deterrent and a limited ground presence in the region, the United States can firmly demonstrate commitment to its allies. Absent offshore balancing however, European allies have no i55ncentive to share the defense burden: despite agreeing in 2006 to spend 2% of the GDP on defense, most NATO member states only reached that target now, after Trump's threats. At the same time, harsh rhetoric on Europe should be avoided. Earlier, Trump had stated he would not protect and instead encourage Russia to attack non-paying NATO member states. This language distances our allies and weakens our ability to form a regional bloc to counter a rising and revisionist Russia. The Future As new global threats gain traction, the United States will need to calibrate its military grand strategy accordingly. Offshore balancing is a realistic solution that simultaneously empowers allies and bolsters US defense capabilities. For Europe, there is a limited window of opportunity for it to build its defense up. Maj. Gen. Davis (rtd.) estimates that only 3 to 5 years after Ukraine, Russia will have the capabilities to mount another challenge against a European state.
Business Wire
an hour ago
- Business Wire
General Mills Accelerates Growth With Blue Buffalo Expansion Into Fresh and Edgard & Cooper U.S. Launch
MINNEAPOLIS--(BUSINESS WIRE)--General Mills today announced two new launches within its North America Pet segment with initiatives from Blue Buffalo and Edgard & Cooper, designed to meet evolving pet parent preferences and accelerate the company's growth in pet feeding. Blue Buffalo to launch 'Love Made Fresh' Blue Buffalo — the most loved and trusted natural pet food brand in the U.S. — is entering fresh pet food with the national launch of 'Love Made Fresh,' offering pet parents more ways to love and feed their pets like family. Using its trusted nutritional philosophy and superior ingredients, Blue Buffalo will meet a growing trend of pet parents looking for fresh pet food, as well as a preference for mixing fresh with kibble and other formats. Blue Buffalo's 'Love Made Fresh' will feature multiple formats and a variety of flavorful recipes, designed to be a standalone fresh solution or a perfect companion to its portfolio of dry dog food. Arriving in stores nationwide later this year, this new fresh portfolio reflects General Mills' commitment to meet the evolving expectations of pet parents and unlock growth in a dynamic $3 billion fresh pet food sub-category. With this launch, Blue Buffalo will represent the largest U.S. pet food brand to offer solutions across dry, wet and fresh feeding. Edgard & Cooper expands to U.S. Following its April 2024 acquisition of Edgard & Cooper, a leading European premium pet food brand, General Mills will launch the brand in the U.S. this July through an exclusive retail partnership with PetSmart, a leading omni-channel pet retailer. This U.S. launch will feature Edgard & Cooper's fresh take on pet nutrition, with recipes made with real, recognizable ingredients like fresh chicken, venison and duck, combined with nutritious fruits and vegetables. The range spanning dry food, wet food and treats is designed to support dogs of all breeds and life stages. The national PetSmart launch will leverage Edgard & Cooper's digital-first, social-led marketing approach — a proven driver of its rapid growth in Europe — and further PetSmart's position in the super-premium segment. 'Pet parents are redefining how they feed and treat their pets, and at General Mills, we're listening and continuing to bring trusted, high-quality natural solutions to a rapidly evolving marketplace,' said Liz Mascolo, segment president, North America Pet, General Mills. 'These moves position us to lead in both scale and innovation across the pet food aisle, with offerings that appeal to the fastest growing demographic in the category — young pet parents.' These investments align with General Mills' Accelerate strategy, combining brand leadership with relentless innovation and consumer-centric insights to drive long-term growth. Stay tuned to learn more about Blue Buffalo's 'Love Made Fresh' portfolio, coming to stores nationwide later this year. Learn more about Edgard & Cooper's U.S. portfolio at General Mills makes food the world loves. The company is guided by its Accelerate strategy to boldly build its brands, relentlessly innovate, unleash its scale and stand for good. Its portfolio of beloved brands includes household names like Cheerios, Nature Valley, Blue Buffalo, Häagen-Dazs, Old El Paso, Pillsbury, Betty Crocker, Yoplait, Totino's, Annie's, Wanchai Ferry, Yoki and more. General Mills generated fiscal 2024 net sales of U.S. $20 billion. In addition, the company's share of non-consolidated joint venture net sales totaled U.S. $1 billion. For more information, visit
Yahoo
an hour ago
- Yahoo
Goldman Sachs warns of oil price surge on Strait of Hormuz risks
(Reuters) -Goldman Sachs (GS) flagged risks to global energy supply amid concerns over a potential disruption in the Strait of Hormuz that would lead to significant spikes in oil and natural gas prices, the bank said in a note dated Sunday. The bank estimated Brent crude (BZ=F) could briefly peak at $110 per barrel if oil flows through the critical waterway were halved for a month and remained down by 10% for the following 11 months. Prices would then moderate, with Brent averaging around $95 per barrel in the fourth quarter of 2025, it said in a note. Oil prices jumped on Monday to their highest since January after Washington joined Israel over the weekend in attacking Iran's nuclear facilities. Goldman highlighted that prediction markets, despite limited liquidity, now reflect a 52% probability of Iran closing the Strait of Hormuz in 2025, citing data from Polymarket. Additionally, it noted that a drop in Iranian supply by 1.75 million barrels per day could push Brent to a peak of around $90 per barrel. In one scenario, the bank said a 1.75 million barrels per day (bpd) drop in Iranian oil supply for six months, followed by gradual recovery, could push Brent crude to peak at $90 per barrel before falling to the $60s by 2026. In the second sub-scenario, where Iranian production remains persistently lower, Brent could still peak at $90 but stabilize between $70-80 in 2026 due to reduced inventories and global spare capacity, Goldman Sachs said. "While the events in the Middle East remain fluid, we think that the economic incentives, including for the U.S. and China, to try to prevent a sustained and very large disruption of the Strait of Hormuz would be strong," Goldman Sachs said. Iran's Supreme National Security Council must make the final decision on whether to close the Strait of Hormuz following U.S. bombing raids, Iran's Press TV said on Sunday, after parliament was reported to have backed the measure. Goldman Sachs also projected European natural gas markets, including the TTF benchmark, to price in a higher probability of disruption, with TTF potentially rising closer to 74 euros per megawatt-hour ($25/MMBtu). However, the bank noted that U.S. natural gas prices would face limited impacts due to structural factors such as strong export capacity and minimal domestic LNG import needs. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
