Promasidor Nigeria Limited, makers of Cowbell milk, Onga seasoning, Loya milk and Top tea has finalized arrangements with the International Finance Corporation (IFC), a member of the World Bank Group, to obtain a $25m loan (over N8bn) which would be used to expand production and improve efficiency at the company’s Lagos plant.

Promasidor Nigeria Limited, makers of Cowbell, Loya and Miksi powdered milk, among others has applied for a $25m loan from the International Finance Corporation (IFC), a member of the World Bank Group to upgrade its Lagos plant, which would start operation in 2017.