Global home appliance company, LG Electronics, has opened a N600 million factory in Apapa, Lagos for the manufacturing of refrigerators and air conditioners.

LG plans on adjusting certain products to the specific needs of the Nigerian market.

The facility will create employment for the local population which in turn will increase LG's standing in Nigeria. Many international companies have recently been accused of simply dumping their products in Nigeria without adding any real value to the country's economy.

According to Mohammed Fouani, MD of Fouani Nigeria Limited which is LG's distributor, the demand for LG's products in Nigeria is increasing by the day.