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Exhibitors Express Confidence In Nigerian Market at Food & Beverage West Africa

Investors across the globe have expressed confidence in the Nigerian Food and Beverage market

and have shown high readiness to invest in the segment of the economy

This became apparent at the recent Food & Beverage West Africa Exhibition in Lagos organised by United Kingdom based firm, BtoB Events.

The three- day event had in attendance over 150 Food & Beverage exhibitors and 5000 visitors from within and outside the country, all of whom were exposed to trends, opportunities and innovations in the sector, in addition to the business and networking windows open to them.

 The Food & Beverage sector is reported to be the largest segment of the Nigerian manufacturing industry estimated at €16.5bn in aggregate output and generating 1 5.m jobs.

According to the Association of Fast Food and Confectioners of Nigeria, the Nigeria  food industry alone is worth over one N1trillion.

Managing Director of B to B Events, Mr. Jamie Hill,  explained that the huge prospects and positive outlook presented by the  sector informed the choice of Nigeria’s venue for the fair coupled with investors interest to establish their foothold in the country.

Mr Hill revealed that Nigerian businesses made up 40 per cent of the over 150 exhibitors, commenting: “This will enable local SMEs to benefit from the annual platform and showcase what they have to offer alongside the local and international power houses across sectors. By offering local businesses opportunity to participate, we hope to facilitate their growth in the market and work towards the long-term goal of increasing local production and exports from Nigeria across the region.”

Also present at the exhibition, was a former Commissioner for Commerce and Industry in Ogun State, Bimbo Ashiru, who saw the fair as an avenue to draw foreign direct investment (FDI), into the country and  promote the local content, most especially as Nigeria looks to be among the largest economies in year  2020. He has however urged government to put more efforts in making the business environment friendly for investors.

“What we need is the enabling environment from the government for businesses to thrive. Once this is there, I can tell you the sky is the starting point because Nigeria is full of opportunities.”

Talking about the ease of doing business today,  we have moved from over 170 in global ranking to 146. 

The  target is to probably move to 80 or 70 and there is no reason why we can not achieve that. All we need  to do is to create that environment.”

Food & Beverage West Africa also enjoyed wide sponsorship from local and foreign companies including Just Food, NASCO,  Restaurant and Food Services Proprietor Association of Nigeria (REFSPAN),  National Association of Supermarket Owners of Nigeria (NASON) and SPAR, amongst others.

Original source can be found here.

food, investors, news, news and events

Food and Beverage West Africa: Made-in-Nigeria products record huge patronage

Local Nigerian producers of food & beverage products had huge success at the 2019 Food and Beverage West Africa Exhibition.

The News Agency of Nigeria excitedly reported that numerous stands at FAB had fantastic products, all of which seemed alluring to many of the attending visitors. Mrs Omotayo Alabi, an official of Omonide Farms Ltd exhibiting at the event, remarked that the decision to come to the event became imperative because they observed that Nigerians needed healthy, wholesome and home grown foods.

“The turnout has been impressive. We have had to call in for more products from our office because what we have here did not meet the demand. The exhibition was a great opportunity to showcase healthy foods that are Made-in-Nigeria for Nigerians, well packaged and affordable,’’ she commented. Mr Olumide Olayomi, Chairman of Omonide Farms, who was represented by an official of the firm, identified as Kingsley, highlighted recent challenges affecting exportation of their products overseas. He said: “Although, we have been pushing through most of these challenges because we are majorly an African food exporter, we work hard to meet international standards for the U.S. and Canada markets.

“One of the major challenges in the export process is the Apapa road issue, getting our products through those roads is a task. Then incentives by the Federal Government for exporters are not coming as they should among others,’’ he said. The officials, however, commended the Nigerian Export Promotion Council (NEPC) for their support, especially exposing them through the drill of meeting standards to eradicate rejection at the receiving country. Omonide Farms is the maker of O-Funirem Foods registered with the U.S. Food and Drug Administration (FDA), they produce smoked catfish, plantain flour, pounded yam flour, locust beans powder, cassava flour, yellow and white gari and Ofada rice among others in different sizes.

Another exhibitor, Riella Agro-Tech Ltd, showcased their Benue Yam Poundo, Benue fresh yams, and fruits like pineapples from Edo, mangoes, cashew nuts, palm oil and honey.
Mr Olu Peters, Head of Commodities, expressed that although the farm was located in Benue, they had an office outlet in Lagos which was the commercial hub of the country. Peters said: “This exhibition is a good initiative, we are excited to be showcasing our products. We all know Benue for the sweet yams they produce, that is why our bestseller, Benue Poundo is doing great. Our fruits are also doing well because they are sumptuous and well cultivated, people have been rushing for them,’’ he said.

Peters, however, identified some challenges in transportation of perishable produce, taxation, electricity and lack of government incentives to keep people in business. One visitor commented that she was happy with such an event because a buyer could easily trace the source of the products one buys.

The Food and Beverage West Africa Exhibition is organised by  BtoB Events bridging the gap between buyers and consumers as well as creating a market for economic stability via luring foreign investors into the country.

Food & Beverage West Africa will exhibit again on the 17th-19th of June 2020.

Please contact the BtoB Events team for more information on visiting or exhibiting at the next show.

 

For more information click here.

food, investors, news, news and events

Attracting foreign investors can solve unemployment and economic challenges

AGRICULTURE

Stakeholders on Tuesday said that attracting foreign investors was key to tackling the high rate of unemployment and economic challenges in the country. The News Agency of Nigeria reports that stakeholders spoke at the ongoing Food and Beverage West Africa Exhibition at Landmark Events Centre, in Lagos. A former Ogun Commissioner for Commerce, Mr Bimbo Ashiru, told newsmen on the sidelines of the exhibition that government had no business doing business but to ensure ease of doing business.

Ashiru said that exhibitions were to create awareness and attract foreigners to come and invest in the Nigerian economy thereby creating employment. “This exhibition clearly shows that we can integrate as a family globally. This is a country of about 200 million people and with the kind of exhibition we are seeing today with people from all over the world. “If these over 100 exhibitions penetrate the Nigerian market, it will create thousands of jobs. One of the exhibitors has also said that their target is to employ 100,000 Nigerians.

Some stakeholders on Tuesday said that attracting foreign investors was key to tackling the high rate of unemployment and economic challenges in the country. The News Agency of Nigeria reports that stakeholders spoke at the ongoing Food and Beverage West Africa Exhibition at Landmark Events Centre, in Lagos. A former Ogun Commissioner for Commerce, Mr Bimbo Ashiru, told newsmen on the sidelines of the exhibition that government had no business doing business but to ensure ease of doing business. Ashiru said that exhibitions were to create awareness and attract foreigners to come and invest in the Nigerian economy thereby creating employment. “This exhibition clearly shows that we can integrate as a family globally. This is a country of about 200 million people and with the kind of exhibition we are seeing today with people from all over the world. “If these over 100 exhibitions penetrate the Nigerian market, it will create thousands of jobs. One of the exhibitors has also said that their target is to employ 100,000 Nigerians. “Just imagine these companies establishing in different locations in Nigeria. One thing I always say is, if you bring people into the country, what is key is the value chain benefits and to employ our people. “The level of unemployment is high and the only way to do reduce this trend is to get foreign investors to come in and produce locally, they will get our local raw materials which will create jobs for our farmers, our unemployed graduates. “At the same time, our graduates who want to start their businesses can consider farming,’’ he said.

Ashiru also noted that there was need to develop agricultural value chain that would lead to industrialisation. According to him, Nigeria needs to start producing and growing what we consume like it is obtainable in other climes where they have farm access roads for easy transportation of raw materials to manufacturers. “What we owe these exhibitors is to create an enabling environment.

“We are talking about ease of doing business, we have moved from 170 to 146 position and our target is to move to maybe 80 or 70 and we can do that if we create the environment,” he said. Jamie Hill, Managing Director of the B to B Events, organisers of the exhibition said that the exhibition was to create partnership opportunities for Nigerian businesses. Hill said that there was a growing demand for foreign manufacturers to penetrate the Nigerian market, known as the market hub of Africa.

“We created this platform to meet demand because everything is based on supply and demand, this exhibition will not be held if the international market did not request for such. “It is an avenue for them to see the Nigerian economy and possibly work towards establishing their companies here in Africa’s largest economy. “It is a simple decision to hold this exhibition here, the people are good, the facilities are good, and the business is great.

“I have been in Nigeria since 2012 but this is my first time organising this event. We are pleased to say we are hosting exhibitors from across the world and hoping for partnerships for Nigeria and international business. “We want to support Nigerian businesses and help them grow and we want to attract international businesses to come here and invest in the Nigerian economy,’’ he said. According to Hill, the long term goal is to partner local manufacturers because foreign investors will not just come from overseas to set up a manufacturing plant without doing a market study or finding a market partner to market their brand.

NAN also reports that local exhibitors totalled over 40 per cent, while the over 50 per cent are foreign manufacturers. The event which opened today had about 1,000 visitors from across the country.

Continue reading at https://nnn.com.ng/2019/06/18/attracting-foreign-investors-key-to-solving-unemployment-economic-challenges-stakeholders/ | NNN NEWS NIGERIA

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