In the wake of instability in the oil sector and diversification to agriculture as a major source of national revenue, First Bank Nigeria Limited has demonstrated commitment to creating opportunities for Small and Medium Enterprises (SMEs) in the food sector and enhancing the nation’s economic diversification.
The drive towards food sustenance has been tied to the SMEs, a sector estimated to comprise of 96 per cent of all businesses in Nigeria. Aligning with this remarkable sector to boost opportunities centered around food sustenance and economic growth, Nigeria’s First Bank, has sponsored 3 consecutive editions of the Fiesta of Flavours, a food and beverage fair showcasing the entertainment, art and business of food. For example, the third edition of the event held December 2017 was brought to life through a collaboration with Eventful, and happened in an arena saturated with games, relaxation spots, Nigerian music and freshly made Nigerian dishes. ADESOLA AFOLABI, reports.
A Nigerian baker, Dr. Ogbonna manages Lekki- based Minibees bakery. An interesting part of her confectionery business is the making of ice cream with freshly sourced milk from Jos, Plateau State capital. According to her, farmers from Jos, send the freshly milked milk from their farms in refrigerated coolers to customers on the same day. “I prefer it because it’s affordable, and fresh. The natural benefits of the milk are not yet degraded unlike the imported ones we get to buy off the shelves of super markets; and it is also convenient. It goes for N600 per litre and the difference the fresh milk gives is obvious in the taste of our ice creams.”
Still on the business of nutritious thirst quenchers, makers of wave making Wilsons lemonade granted audience to Daily Times Nigeria. In the brief interview, held with a sales consultant of the first Nigerian NAFDAC approved all natural drink, business is so good, the company plans to acquire acres of land in Jos in 2018. “Jos is where the climate is conducive for growing lemons, and per month we need at least 25 tonnes of lemons to be able to meet demand,” said Stephen Asichan, an executive of the firm. According to Stephen, the lemons are currently being sourced from Ondo, Benue and Kaduna states. We currently have agents and links with farmers, but in 2018, we want to start partnering the farmers directly because our demand keeps growing.
Speaking on the growth trend, the Wilson drink representative said business has grown from a value of N2000 in 2012, to N3million in 2013, N15m in 2014, N86m in 2015 and over a N100m in 2016. We use real fruits, and if Nigeria can give us lemons we will use all of them.
Meanwhile, the dream for Beauty Amoda’s BenjysBlend, a smoothie and juice making business, is to reduce the rate of preventable and curable diseases with her blend of naturally grown fruits and vegetables. According to the Quinquagenarian business owner, a cup of her Mango Pinacolada juice made from mango, spinach, coconut water and ginger will do well for the body to the extent of preventing lung and oral cancer. The fruit blend will solve digestive problems and provide potassium, vitamin k, vitamin A, manganese, folate, magnesium, iron, copper, vitamins B2, B6, C, E and calcium.
The FirstBank sponsored event also had caterers from, Ghana High Commission, located on the Lagos Island and Surulere -based Bolafolu Foods, amongst others. Speaking on behalf of Bolafolu, an heir of the business, Yetunde, noted that business is better, especially since the improved availability of high demand food like rice. “Our Ofada rice is second to none, and we take pride in the satisfaction our food gives customers.” Yetunde says supply for all food items are from Nigeria. A look down memorable lane, say 4-5 years ago, Ofada rice was only served at parties, but in the last several years, production has grown to a level that the food is found in most south-western Nigerian homes and is currently being exported at considerable quantities.
The CEO of Sheedah’s catering, also confirmed adequate supply of food items for prompt service delivery. We source our tomatoes, plantain, sweet corn, bell pepper, carrot, all forms of vegetables here in Nigeria, the palm oil, vegetable oil, beans, etc. are got here. She however believes farmers and manufacturers of food products to do more in terms of business advertisement. “Nigerian food businesses should begin educating the public on the benefits of their products, and why it should be preferred to the various alternatives.
The issue of eradicating hunger, an issue top on the list of the sustainable developmental goals (SDG), is not peculiar to Nigeria alone. It is an issue of great concern to countries across the globe. Although Nigerian government, both past and present, had established that food security has gone beyond just availability, the adequate production of nutritious food that is sufficient and sustainably accessible will remain a vital focus for some time. The country needs to start profiting from its new ‘oil’- food and First Bank is strategically positioned to help it achieve this new focus for a growing, healthy nation.
First published at: https://dailytimes.ng/first-bank-enhances-drive-agricultural-diversification/
The Financial Literate 