Nigeria is now Africa's largest economy with a GDP of over $510 billion in 2014. This is expected to increase to more than $900 billion by 2019 making it more than twice the size of South Africa's GDP.What makes Nigeria such a promising investment opportunity is the number of consumers, with a population of 173 million in 2013. This figure expected to grow to 239 million in 2025.Nigeria offers a very attractive food and drink sector. Changing demographics and lifestyles are resulting in increasing consumer preferences for a wider range of processed and packaged, as well as nutritional foods.Increasing disposable incomes combined with growing consumer sophistication has resulted in a move away from traditional unprocessed foods from open air markets. The country's retail food sector has been undergoing change over the last decade with international supermarket brands entering the country; new malls being constructed and the steady transformation of informal markets into more formal and modern facilities are setting new bars by providing a wide choice of shopping experiences in a modern, customer-oriented environment.The interest in Nigeria as a business hub, has also resulted in huge growth within the hospitality industry, further highlighting demand for sophisticated, higher end processed foods.
Food Nigeria provides the largest platform for both international and regional food and beverage companies to meet, network and establish business ties in Africa's largest economy – Nigeria.The exhibition will host more than 150 international companies across 2,000sqm of exhibition space . According to the World Trade Organization (WTO), Nigerian food imports reached $5.740 billion in 2013, compared to $5.22 billion in 2012. This figure is projected to grow at 20% per annum by 2020. This level of expenditure will inevitably put a strain on resources, and in an attempt to reduce expenditure, The federal government have recently highlighted polices and initiative within Nigeria to increase food production and exports while ensuring FOOD SAFETY.
Food Nigeria provides the platform for international food and beverage companies to gain entry into this lucrative market, and for domestic companies to grow and develop their networks across the region also expose Nigeria's rich cuisines and delicacies.
The Food Nigeria conferences will discuss major topics and issues including:- Supply chain management- Food technology- Retail innovation
The conferences are free-to-attend and will attract Government officials, key decision makers and market leaders looking to gain insight from both local and international experts.