Oyetty Meals launches as West African food company in UK
Source: Natural Products, July 2022
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Source: Natural Products, July 2022
To find out more about Food and Beverage West Africa 2023 Click Here
To book a stand at Food and Beverage West Africa 2023 Click Here
Source: The Guardian, June 2022
To find out more about Food and Beverage West Africa 2023 Click Here
To book a stand at Food and Beverage West Africa 2023 Click Here
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The retailer, which is among the top five supermarket chain owners in the country has outlets spread across Oyo, Lagos and Ogun States.
Source: FoodbusinessAfrica, April 2022
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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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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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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 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
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.
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Source: Vanguard Nigeria, April 2021
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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