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UN believe West African food economy will hit $480bn by 2030

Matthias Schmale, the UN’s Resident and Humanitarian Coordinator in Nigeria has stated that the West African and Sahel sub-regions food economy is projected to hit $480 billion in 2030.

At the 13th Multidisciplinary Team Meeting of 15 West African countries and Sahel sub-region held in Abuja, where they were brainstorming the way forward for the food and nutrition situation in the region Schmale announced this. The meetings theme being “Joining Efforts to Build Resilient Agrifood Systems in West Africa and Sahel”.

The FAO (Food and Agriculture Organisation) of UN is where the growth will be attributed to, by their systemic approach undertaken in maintaining the development in the fight against hunger, poverty and progressing to deliver other Sustainable Development Goals (SDGs). The challenges being faced by West Africa’s agri-food sources are a declining natural resource base, recurrent natural and human-caused disasters, climate change, and rising insecurity.

By appealing to West African countries to seize the opportunity to build resilient systems throughout the region and align with the FAO’s framework to address structural policy constraints, he’s noted these significant trends will provide the prospects of production increase, value increase, create jobs and food security in turn.

FAO representative in Nigeria and to the Economic Community of West African States (ECOWAS), Fred Kafeero, said FAO emphasised on the area of data and analytics for the generation of evidence to guide responsible investments and partnerships for food systems transformation.

“We are glad our partners from ECOWAS are joining us to advance food security and nutrition in West Africa and to contribute to knowledge sharing regarding challenges, threats, and opportunities to move agri-food systems in the region towards sustainability.

Minister of Agriculture and Rural Development (FMARD) Dr Mohammad Mahmood Abubakar assured of government willingness to partner with FAO and other development partners in driving for a resilient agrifood system in the country in particular and in West Africa and Sahel in general.

The News Agency of Nigeria(NAN) reports that the three days meeting expected over 200 delegates from the ECOWAS member states including senior officials, ministers and commissioners of agriculture, FAO staff, regional technical organisations, Civil Society among others to participate.

Source: The Guardian, March 2022

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Ibadan marks 15th Outlet opening for FoodCo

The retailer, which is among the top five supermarket chain owners in the country has outlets spread across Oyo, Lagos and Ogun States.

 Ade Sun-Basorun, Chief Executive Officer of FoodCo, said that this move is meeting evergrowing retail demands in the Country.

“We are excited to announce the opening of FoodCo’s 15th outlet. Given that Ibadan is the birthplace of the brand, FoodCo shares a special relationship with the city and we have continued to enjoy enormous goodwill and support from our teeming base of customers and well-wishers since we opened our first shop almost 40 years ago,” he stated.

FoodCo is a customer-focused brand, built on values of delivering customer satisfaction and growing for the benefit of all their stakeholders.

“This is a major motivation behind our investments in deepening modern retail penetration in the country in order to meet the increasing demand from the bourgeoning middle-class and sophisticated customer segment who crave the convenience, quality assurance and superior customer service that the sector offers,” Sun-Basorun added.

The new outlet has a Quick Service restaurant offering local and international cuisines including delicious pastries, it holds groceries and household products also.

FoodCo was established 40 years ago as a diversifying consumer goods company with retail, quick service restaurants, manufacturing and entertainment as their markets.

The company operates the largest supermarket chain brand in South-West Nigeria, outside Lagos, and is currently only one of two omni-channel retailers in the country.

 

Source: FoodbusinessAfrica, April 2022

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Travel Protocol to Nigeria changes today

The Federal Governments Covid-19 protocol for entering Nigeria changes today.

Boss Mustapha, the Chairman of the Presidential Steering Committee for Covid-19 has advised.

Any in-bound passengers to Nigeria that are fully vaccinated need not take any pre or post flight PCR tests and rapid antigen tests.

Any child under the age of 18 is under the same bracket as a fully vaccinated adult in the new protocol document.

For the unvaccinated and partially vaccinated a PCR test 48 hours before departure is required, along with the 2 and 7 day post arrival PCR tests, at their own cost.

All-inbound passengers, regardless of vaccination status, are expected to register via the online Nigeria International Travel Portal (NITP– https://nitp.ncdc.gov.ng).

All passengers travelling out of Nigeria are “encouraged to have evidence of full vaccination against COVID-19; comply with the COVID-19 guidelines of their destination or transit countries; and to familiarize themselves with the COVID-19 travel requirements of their destination and transit countries before embarking on the journey.”

Source: Channelstv, April 2022

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Importation of food rises to almost N2 trillion

Food importation has risen despite CBN’s efforts to promote local market.

The Central Bank of Nigeria’s efforts to bring up the agricultural output for an insurance of food security to Africa’s highest populated nation has been monopolised by the recent food importation figures. In 2020 the level rose from N1.19 trillion to N1.97 trillion in 2021, amassing a 42 percent increase.

This is in contrast with Nigeria’s agricultural export earning N504.89 billion in 2021, 57% more than the year previous (N321.54 billion), and 87% from 2019 where it came to N268.83 billion. 

This meant a deficit of N1.46 trillion, according to figures released by the National Bureau of Statistics (NBS).

Agriculture has been the largest economic sector at 25.9% of GDP (Gross Domestic Product) in 2021, at an estimated value of N18.74 trillion, but still doesn’t meet the demand locally so cannot be meeting export needs.

The growth is still lower than the year previous, being at 2.14% whereas then it hit 2.17% in 2020.

 

The latest CBN Monetary Police Committee (MPC) information said the apex bank intervened in manufacturing/industries, agriculture, energy/infrastructure, and healthcare, and other sectors.

Over November and December 2021, the CBN spent N75.99 billion to help the farming of over 383,000 hectares of maize, rice, and wheat under the Achor Borrowers’ Programme (ABP).

Overall that put the full amount spent to N927.94 billion to over 4.5 million farmers for 21 cultivation projects across the country.

Two larger scale projects were financed by the CBN, where they released N1.76 billion under the Commercial Agriculture Credit Scheme (CACS).

Trade internationally rose 58 per cent to N39.8 trillion in 2021, largely driven by imports worth N20.84 trillion; 64 per cent higher than N12.7 trillion in 2020. Exports rose 51 per cent to N18.91 trillion.

Foreign trade deficit grew to N1.94 trillion from N178.3 billion in 2020.

The rise in Crude oil export was 53 per cent to N14.41 trillion, from N9.44 trillion in 2020.

Non-crude oil export fetched N4.49 trillion, 46 per cent higher than N3.08 trillion in 2020.

Source: Niche, March 2022

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Food & Beverage West Africa returns to Lagos in June

Trade show expands due to growing demand for exhibitor space

Food & Beverage West Africa is taking on a bigger show area when it returns to Lagos in June. Already the largest food and beverage exhibition in Sub-Saharan Africa, the post-pandemic demand for in-person trade events means FAB West Africa 2022 is having to expand into new exhibition space at the Landmark Centre on Victoria island. This could make it the largest food and beverage exhibition on the African continent.

More than 220 exhibitors from over 40 countries will be taking part and over 5,000 visitors are expected to come to FAB West Africa 2022. The show, which runs from Tuesday 14th June to Thursday 16th June, will also be the first exhibition to use the new third hall at the Landmark Centre.

FAB West Africa is being organised by BtoB Events, with Just Food and NASCO group as Gold Sponsors are. FAB West Africa’s success derives from the extensive opportunities it provides to find out about the latest food and drink developments and to sample products being launched in Nigeria and the region. A number of country pavilions will showcase international ranges.

BtoB Events Managing Director Jamie Hill says: “After the huge success of FAB West Africa 2021, I cannot wait to bring the largest edition of the Food and Beverage West Africa exhibition back to Nigeria. This year’s exhibition has seen an incredible increase in demand for exhibition space and will host exhibitors from across 40 countries and 5 continents.

“The previous edition back in September 2021 was a huge success, despite certain covid and travel restrictions. So for 2022, and the first edition since international travel was relaxed, we have seen a surge in demand for exhibition space. This exhibition will sell out so should you want to exhibit, get in touch today.”

Businesses wanting to book an exhibition stand or to enquire about sponsorship opportunities should contact info@fab-westafrica.com or +44 (0) 2476 158100

Free admission is available for visitors who preregister for the event at https://www.fab-westafrica.com/pre-register/. Alternatively, there will be a 1,000 NGN fee for non-registered attendees on the door.

Regular updates are also available via the FAB West Africa WhatsApp group on +234 818 381 8456

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BUA Foods profit rises to N21.25Bn

BUA foods Plc have reported a operating profit of N21.25Bn for the first 9 months of 2021, a significant increase from the N18.96 in the same period from the previous year. 

BUA Foods Plc, which recently listed on the Nigerian Exchange Limited at the beginning of this month, stated their net profit increased to N16.56bn, a increase of N1.03bn in comparison to the same period within 2020.

Mr Abdulsama Rabiu, the BUA Group Chairman, stated the company was determined to increase opportunities available within the agribusiness in an attempt to increase food security and growth for both Nigerians and African’s.

The Chief Executive Officer, NGX, Mr Temi Popoola, was quoted as saying the listing marked a new beginning for BUA Foods, saying the company could leverage services the Exchange offers to achieve its strategic objectives.

He said, “BUA Foods has experienced an upward trend in share price, market capitalisation, and trading activity since its listing on the Exchange. At NGX, this milestone transaction is in line with our strategic objectives to improve listings and enhance investors’ participation in our market.

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Source: Punch, January 2022

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Nigeria’s Dairy Imports Stands at $1.5bn Says Nanono

Mohammad Nanono, the Minster of Agriculture and Rural Development, announced earlier this week that Nigeria imported over $1.5billion on dairy products. 

Nanono made the announcement this week during the annual ‘National Dairy Policy Stakeholders Engagement’ which took place in Abuja. He highlighted at the consumption of bulked milk is less than 20& of the local potential, and that Nigerian’s milk production accounts for only 13% of the West African production.

He indicated “The per capita consumption of milk is eight litres per year representing very low consumption levels when compared with the global averages of 44 litres of milk”.

As a result, the neglect in the livestock industry has had a large negative effect on the nations import bill.

He continued “Around $5billion worth of food is imported yearly into the country, out of which milk and dairy products account for around $1.5billion. Hence the annual dairy consumption is met by 60% imports and 40 per cent local production.”

Mr Nanono assured the Ministry of Industry Trade and Investment is committed to providing sustainable access into affordable qualities of food to all Nigerians with the intention of boosting local food production with the intention of being self sufficient.

Minister of Industry Trade and Investment, Otunba Adebayo, announced that Nigeria’s annual production of milk stands at 672 million litres, against the annual demand which is reported to be around 1.6billion litres, which hugely suggests that the nations production can not effectively meet the level of demand.

He continued to say that Nigeria currently has cattle stock with over 20 million cows, however only around 2.3 million are utilised for large scale dairy production. This is substantially lower than intended amount which is insufficient to meet demand.

For more information about the West African Food and Beverage sector, please Click Here

Source: Vanguard Nigeria, April 2021

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Bed occupancy in Lagos COVID-19 centres decreased to 8%

Prof. Akin Abayomi, the Lagos State Commissioner for Health, has announced the bed occupancy in the states public and private COVID-19 care centre has reduced from 60% to 8%.

Adayomi made the announcement Thursday evening via his verified Twitter account. He indicated that as of the beginning of February, the bed occupancy within both private and public COVID-19 centres has dramatically declined. His research indicated that 5 out of the eleven private and public care centres in the state were completely empty.

Finally indicating that 520 beds were available from the total across the 11 COVID-19 care centres. The positive news comes a number of days after the Government have announced the COVID-19 vaccine inoculations have begun.

For more information about the West African Food and Beverage sector, please Click Here

Source: The Guardian, March 2021

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Update: COVID-19 Vaccines arrive in Nigeria

Nigeria have received nearly four million doses of the COVID-19 AstraZeneca/Oxford vaccine, shipped via the COVAX Facility, a partnership between CEPI, UNICEF, Gavi and WHO (World Health Organisation). 

It is believed that COVAX have delivered 3.94 million doses of the life changing vaccine, which arrived from Mumbai into Abuja around 11:30am yesterday morning.

Presidential aid, Bashir Ahmad, tweeted yesterday “Nigeria has just received the first batch of Oxford/AstraZeneca Covid-19 vaccine”. The welcomed news comes as the nation plans to successfully vaccinate 40% of the Nigerian population this year.

UN Resident Coordinator in Nigeria, Edward Kallon, stated “The UN Country Team in Nigeria reiterates its commitment to support the vaccination campaign in Nigeria and help contain the spread of the virus.

“The arrival of these vaccines in Abuja today marks a milestone for the COVAX Facility in its unprecedented effort to deliver at least 2 billion doses of COVID-19 vaccines globally by the end of 2021”.

In accordance with the National strategy, front healthcare workers will be inoculated first.

WHO representative in Nigeria, Dr Walter Kazadi Mulombo, said “It is heart-warming to witness this epoch-making event and WHO wishes to congratulate the government of Nigeria for its participation in the global vaccine collaboration (COVAX) efforts and its commitment to protecting Nigerians against this pandemic.

“Vaccines are a critical new tool in the battle against COVID-19; therefore, this is a step in the right direction. These vaccines have undergone rigorous regulatory processes at global and country level and have been deemed safe and effective.”

For more information about the West African Food and Beverage sector, please Click Here

Source: The Punch, March 2021

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Nigeria to Receive 16m Vaccines says UK Government

The UK Government have announcement yesterday that the Global Vaccine Alliance (GAVI) have agreed that Nigeria will be among the first group of countries to receive 16 million free doses of COVID-19 vaccines through the COVAX Global Vaccines Facilities. 

The British High Commission Office released a statement to the the News Agency of Nigeria (NAN) indicating that the free doses will be widely available in the first half of the year.

In the statement, GAVI released the first forecast of countries which are widely available to receive COVID-19 vaccines via the COVAX Advance Market Commitment. The COVAX statement highlighted that it is allocating 330 million vaccine doses to low and lower middle class income countries, including Nigeria.

“As one of the 92 ODA-eligible countries participating in the COVAX AMC initiative, Nigeria will benefit from this arrangement and access free vaccines to cover at least 20 per cent of its population, and the UK is playing a supportive role in ensuring an effective and equitable introduction of COVID-19 vaccines, “it said

The UK are are regarded to be the leading nation tackling the COVID-19 pandemic internationally and so far have pledged over 1.3 billion pounds in UK aid to end the corona virus pandemic as swiftly as possible.

The UK are respected to be one of the largest donors to GAVI, the Vaccine Alliance, which over past two decades have contributed towards updating cold chain infrastructure and improving immunisation procedures in low income countries around the world.

Catriona Laing, The British High Commissioner, stated “This news on the COVAX global COVID-19 vaccine rollout brings us one step closer to delivering vaccines to millions of Nigerians”.

She continued “I am please to announce Nigeria will get millions of these free available doses by the end of 2021”.

This positive announcement comes after the BUA Group announced they will be providing 1 million free COVID-19 vaccines to Nigeria in the upcoming weeks.

For more information about the West African Food and Beverage sector, please Click Here

Source: This Day, February 2021

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