In a decisive move for Nigeria’s manufacturing landscape, Lagos-based private equity firm Aruwa Capital Management has injected $1.5 million into Yikodeen, a homegrown safety-boot manufacturer. This funding marks a pivotal step toward enhancing local production capability and reducing reliance on imports.
From Humble Workshop to Regional Powerhouse
Founded in 2016, Yikodeen began modestly, producing just 20 pairs of boots daily. Over time, it scaled operations to 500 pairs per day, fulfilling orders for critical sectors like oil & gas, construction, and manufacturing. Today, as the only manufacturer certified by the Nigerian Content Development and Monitoring Board (NCDMB) for supplying to the oil and gas sector, Yikodeen’s growth trajectory has positioned it as a standout in local industrial capacity
A Game-Changing Investment
Aruwa Capital Management, operating through its second fund, Aruwa Capital Fund II, is the sole backer of this growth round. The $1.5 million infusion will overhaul Yikodeen’s manufacturing ecosystem recommissoning its factory, introducing advanced production technology, and instituting digital quality control systems. Once fully operational, the upgraded facility is expected to increase output from 500 to 2,500 pairs per day making it West Africa’s largest safety-boot manufacturer
Driving Economic Impact and Growth
The investment isn’t solely about boosting output. Yikodeen’s projected expansion will create approximately 200 new skilled jobs, strengthen Nigeria’s industrial workforce, and generate significant foreign exchange savings through import substitution. With the Nigerian footwear market valued at $2.1 billion in 2024 and the safety-boot segment accounting for $700 million Yikodeen is well-positioned to capture a growing share of this expanding industry.
Championing Local Content and Social Equity
This partnership aligns with broader national priorities around local content development. Yikodeen’s compliance with NCDMB standards uniquely positions the company to meet domestic needs in industrial safety gear . The company’s social impact commitments are equally notable. With women comprising 61% of factory workers and 33% of senior leadership, Yikodeen exemplifies a gender-inclusive enterprise. Initiatives such as leather-working training programs (reaching over 200 individuals annually) and donating over 1,000 pairs of shoes to children in need further underscore its community engagement approach .
Setting a Blueprint for African Manufacturing
Aruwa Capital’s backing of Yikodeen is emblematic of a broader vision: establishing robust, locally led manufacturing ecosystems in Africa. According to Adesuwa Okunbo Rhodes, Founder & Managing Partner of Aruwa Capital, Yikodeen embodies “manufacturing excellence, impressive certifications, and a remarkable growth trajectory” qualities that make it an ideal candidate for scaling and wielding transformative impact on the continental footwear value chain
Conclusion
By channeling $1.5 million into Yikodeen, Aruwa Capital has done more than finance expansion—it has ignited a bold imperative for industrial sovereignty, sustainable job creation, and export-ready Nigerian manufacturing. This partnership illustrates how strategic capital deployment, coupled with local content enforcement and social responsibility, can yield global-competitive capabilities. As Yikodeen scales, its journey offers a blueprint for other African innovators seeking to turn local potential into industrial strength.
for more news visit our website africabizmonitor.com