June 17th to 19th  2020,  Landmark Centre in Lagos, Nigeria  +44 (0) 2476 158100

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Nigeria, US to mobilise $300m for agribusiness

The Federal Government, the United States and other stakeholders have mapped out strategies to mobilise $300m to support investment and boost business in the agricultural sector in the country.

The fund aimed to reach at least 5,000 small and medium enterprises in order to expand opportunities for agribusiness borrowers and lenders in Nigeria.

Vice President Yemi Osinbajo, while speaking during the launch of the initiative in Abuja on Tuesday, said the Federal Government was creating the enabling environment and would ensure coordination among the states, the Federal Government and the US to achieve the target.

Represented by Andrew Kwasari, Senior Policy Adviser in the Office of the Vice President, Osinbajo noted that “the synergy between the US, the Federal Government and the states is a way for the future.”

The USAID Contractor of the FTF Nigeria Agribusiness Investment Activity, Adam Saffer, explained that Nigeria had tremendous opportunity to take advantage of the arable land in the country, abundant water, human resources, fertile soil and many other things that should make Nigeria not only self-sufficient but also the food basket of the region.

He said, “FTF Activity in order to help Nigeria reach the target is working with financial institutions, investors, agro data, processors and other businesses and producers to create a more enabling environment to attract those finances and investors.”

“With a more efficient agribusiness sector, food generation, better income and more inclusiveness of women and youth, we can end up with a better quality food at a lower price.  Our activity is trying to activate $300m from the investors, from the banks and from the finance institutions to make this happen.”

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Source: The Punch, August 2019

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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.

 

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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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Food and Beverage West Africa to showcase latest international innovations

New trade show launches later this month with 150 local and international exhibitors

The Food and Beverage West Africa exhibition in Lagos, Nigeria, is expecting to see more than 5,000 attendees from the industry over three days.

FAB West Africa is free to attend taking place at the Landmark Centre, Victoria Island, from June 18th to 20th

. Visitors will be able to discuss business opportunities and see the latest in F&B developments from over 150 exhibitors, both local and international.

Thousands of products, many of which will be showcased for the first time in the region, will be on display. Besides finding new products, attendees will also be able to source new and additional suppliers as well as keep up to date with new industry trends from around the world.

FAB is organised by BtoB Events. Btob Events Managing Director Jamie Hill explains: “Food and Beverage West Africa is the premier exhibition dedicated to West Africa’s food and beverage industry. The exhibition will bring a host of guests and exhibitors from around the world together under one roof, to celebrate and explore future opportunities within the Food & Beverage industry. Guests can discuss opportunities face-to-face and start to build those all-important business relationships for future success. Essentially anybody who is involved in the procurement of foodstuffs will be in attendance from fast food chains to supermarkets, retail stores to catering companies.”

As a business-to-business platform, the organisers of FAB have seen a particular interest from companies wanting to meet distributors from across the ECOWAS (Economic Community of West African States). Overseas exhibitors are also hoping to meet with a full representation of the Nigerian F&B industry, says Mr. Hill. “International companies are typically looking for importers of food and beverage products. The exhibition will give exhibitors the opportunity to demonstrate and give examples of their new and innovative products. Visitors will have the chance to see first-hand what to expect within the food and drinks sectors over the next few months.”

Event Gold Sponsor NASON

Nigerian businesses make up a third of the confirmed exhibitors. The exhibition even has a special zone for local small and medium enterprises (SMEs). “The ‘Made in Nigeria SME Zone’ will enable local SMEs to benefit from this annual platform and showcase what they have to offer alongside the local and international power houses across the sector,” says Mr Hill.
“By offering local SME’s the 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.”  One of the show’s partners welcoming the focus within the SME sector is AgroNigeria. It’s Executive Director Mrs Idongesit Mbaram comments: “As a matter of fact, businesses under the F&B value chain should see the FAB West Africa as a rare opportunity to connect with suppliers, distributors, manufacturers and to build strong business relationships with clients from across Nigeria, neighbouring West African countries and around the world. Due to the almost steep nature of the agricultural sector, it is expected that an event like this will create an  avenue where local small and medium scale agricultural value chain establishments will come into contact with bigger corporations and do business.”

With exhibitors from over 20 different countries being represented over the three-day event, there will also be country pavilions and individual exhibition stands.
Just Food, the region’s leading provider of quality, global food equipment brands, is a Gold Sponsor of FAB. JustFood’s Chief Executive Officer Tunde Ogunrinde expects that visitors will want to engage in

Show Partner REFSPAN

practical discussions, see live demonstration of products, plus benefit from discounted offers on products. Attendees should make the most of good networking opportunities, with the “synergy between businesses,” he recommends. “FAB is a great place to meet various key stakeholders and decision makers in the food & beverage industry.”

 

Visitors will also be able to find out about the benefits of joining a trade association as a number are partnering the event. One of FAB’s partners is REFSPAN, the Restaurant and Food Services Proprietors Association of Nigeria. REFSPAN was previously known as AFFCON but recently changed its name to reflect the growing interest of other relevant business owners in the sector as prospective members. FAB attendees interested in joining REFSPAN should visit its stand for a free application form.
FAB is free to attend, and with so many visitors expected, the organisers are encouraging attendees to pre-register online for free at http://fab-westafrica.com/pre-registertoday-online/
Alternatively, WhatsApp ‘’PRESS” to +2348183818456.

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Food & Beverage West Africa will showcase opportunities in Nigeria

Innovative Food & Drinks Trade Show gets huge local and international endorsement

More than 150 food and drink businesses, both local and international, are set to take part in a new trade show in Lagos, Nigeria. 

Food and Beverage West Africa (FAB) launches on Jun 18th-20th at the Landmark Centre, Victoria Island.

The show has secured the backing of many businesses and trade associations which recognise the significant opportunities the show will bring to food and drink retailers, restaurant owners and food distributors in Nigeria and West Africa. Such is the interest, more than 5,000 visitors from the F&B industry are expected to attend the free to-attend three-day event.

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IMF ranking: Largest economies in Africa by GDP in 2019

The International Monetary Fund (IMF)’s have recently revealed that Nigeria and South Africa are among the largest economies in Africa with a combined Gross Domestic Product (GDP) which is around $750 billion in the year of 2017/18. According to the African Exponent, there will have to be conscious practical efforts in improving the non-oil sectors if the continent can compete with top economies in the world.

1. Nigeria

With a population of over 200 million, Nigeria’s GDP is in excess of $376.284bn, successfully contributing towards being the largest GDP on the African continent. Nigeria’s largest resources and export is oil, however the countries other non oil resounces consist of Peanuts, Palm Oil, Cocoa and increasing growth within the tech nidustry. 

2. South Africa

South Africa is a close second to Nigeria with a overal GDP of $349.299bn. The data corrolated in 2017 showed that the country’s economy has successfully increased by 1.3% which surpassed the national treasury’s target of 1%. However, recent political tensions have been a big challenge to the country’s economy. Chrome, Iron, Ore, Chrome, diamonds, fruits are some of the things helping to grow the country’s economy.

3. Egypt

Egypt at number three is believed to have fallen off its earlier position due to the 2011 revolution that rocked the country as the country’s reserves fell from $36 billion in December 2010 to almost half at $16.3 billion. The GDP in 2017 was at $237.037 billion. 

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Source: Legit, May 2019

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Protein Supplements Market Worth $21.5 Billion By 2025

The global protein supplements market size is expected to reach USD 21.5 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.3% over the forecast period. Increasing number of fitness centers, gyms, and health clubs signifies rising inclination towards healthier lifestyle. Athletes, bodybuilders, and recreational users have been the traditional consumers of the product.

Pea is expected to be the fastest-growing raw material segment in the market over the forecast period. Pea protein contains all essential amino acids required for body functioning. It is associated with several health benefits including improvement of blood circulation, weight management, calcium absorption, metabolism enhancement, and blood sugar regulation. These proteins are significant for the consumers allergic with dairy and eggs. In addition, rise in demand for meat protein alternatives is anticipated to propel the growth of pea protein supplements over the forecast period.

Plant-based is expected to be the fastest-growing source segment in the market over the forecast period. Rising preference among consumers for plant-based diets owing to increasing number of individuals turning vegan, vegetarian, or flexitarian (people who primarily follow a vegetarian diet but consume fish or meat occasionally) is expected to drive the demand for plant-based products. In addition, ascending demand for vegan and vegetarian products that provide quality nutrition without having to rely on dairy or meat products, coupled with innovations in alternative protein products, is expected to open up new growth avenues.

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Source – Grand View Research, April 2019

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Soft Drinks Industry Likely to Grow 15% in 2019

The Nigerian soft drinks industry is on a growth path after experiencing declines in the last few years, said Mr Chinedum Okereke, Managing Director of La Casera Company, one of the leading players in the sector.

Okereke disclosed this recently in a wide ranging interview with the media covering the performance of the sector and his company’s activities over the last year as well as projections through 2019.

The veteran of the drinks industry with 28 years’ experience said that the sector witnessed a 9% growth in 2018 after posting declines in 2016 and 2017. According to him, 2019 is projected to grow about 15% if the socio-political and macroeconomic environment remains positive.

In terms of trends, the MD said the industry is witnessing a marked shift to PET bottles from the traditional returnable glass bottles (RGBs) which has been a fixture in the industry for the past 60 years.

According to Okereke, La Casera Apple drink, the company’s flagship brand had a good run in 2018, with a slow and steady improvement in market share, adding that its second brand, Smoov Chapman is also becoming a household name.

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Source – Beverage Industry News, April 2019

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Nigeria spends $60m annually on fish imports

Nigeria spends $60m on the importation of fish annually, the Minister of Agriculture, Chief Audu Ogbeh, has said.

Ogbeh said this when he received a delegation of private investors from The Netherlands in his office, according to a statement issued on Thursday by Mrs Oluwakemi Ogunmakinwa.

The minister also asked the delegation led by the Ambassador of The Netherlands to Nigeria, Marion Kappeyne, to assist the country in cattle breeding.

Ogbeh declared the readiness of the Federal Government to collaborate with the Government of The Netherlands on improved seeds/seedlings in order to boost agricultural production in the country.

He commended the government of The Netherlands for its numerous support to Nigeria towards the development of agriculture, adding that Nigeria looked forward to further high-level engagements with The Netherlands especially on improved seeds.

The minister explained that aside from the need for improved seeds, the Nigerian government would further require the support of the government of The Netherlands in the areas of research and aquaculture.

He stated that the ministry in collaboration with the Ministry of Interior had set up Agro Rangers to provide security for Nigerian farmers as part of government’s commitment to creating an enabling environment for both public and private sectors in the nation’s agricultural sector.

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Source – Punch, March 2019

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Nigeria Soon to be World’s Food Basket – Osinbajo

Vice-President, Yemi Osinbajo has claimed that Nigeria is now the food basket of the world.

Speaking at the Nigerian-German Investment Dialogue in Berlin, Germany, Osinbajo said Nigeria is a leading investment destination for potential and serious investors.

According to him, “He said consumer spending in Africa was $1.4 trillion by 2015, with Nigeria, Egypt and South Africa accounting for more than half of that total,” Osinbajo said. There is also increasing economic opportunities in Nigeria because of deliberate actions by our government to diversify the economy and improve the business environment.”

“It is encouraging that there are significant economic ties between Nigeria and Germany. Germany is a significant exporter to Nigeria, which is its second largest trading partner in Africa. Recent reports show that German investment in Nigeria contributes as much as $1 billion in turnover annually. This is good, but we must agree that there is scope for even deeper collaboration given that Nigeria’s GDP is close to $500bn. Today we produce locally 10 million metric tonnes of paddy rice annually. And we are importing only two percent of our rice consumption now,” Osinbajo said.

“Investments in milling capacity has risen astronomically since then, with one investor putting a million tonnes of milling capacity into the market.

“Carlos Farms, a Mexican fruit and vegetable investor, had initially planned to grow bananas and pineapples for export; until he discovered that he was making more money selling his bananas locally at $3 dollars a kilogramme, for what he would have been paid only a dollar per kg in Europe. With a substantial percentage of the world’s arable land and over half of that uncultivated, it is becoming clearer that the world will be looking to Africa, and Nigeria in particular, as its food basket.

“Just to take China’s demand alone, China has 27% of the world’s population, but only 7% of the world’s arable land for agriculture. China needs 2 million tonnes of hybrid Soya beans per annum for livestock feed and vegetable oil. But we have not met that demand.”

“We are also diversifying within oil, while adding that Nigeria is already exporting urea since it is producing more than enough for its domestic needs and in the very near future.

“In the service sector, about 1.8 million international travellers spend two nights on average at Nigeria’s estimated 10,000 hotel rooms yearly. This generated about US$210 million in revenue for the industry in 2017, which barely reflects on Nigeria’s US$500 billion GDP size. Nigeria’s hotel industry alone is projected to grow by double digits by 2020, as the sector bounces back post-recession to one of the fastest growing in the world, and the possibilities for investors is significant.”

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Source: Daily Post, December 2018