Nestlé Nigeria has equipped over 2,000 food vendors in Lagos with essential skills to manage and grow their businesses amidst rising operational costs. This training, part of the ongoing “Business of Food” workshop series, focused on helping vendors, including canteens, grillers, and event planners, adapt to challenges posed by inflation and rising food prices.
Now in its ninth edition, the workshop aims to empower food vendors with practical tools to maintain profitability while ensuring they continue to meet customer nutritional needs. The initiative has already impacted thousands of vendors across nine states in Nigeria, reaching urban centers nationwide.
Funmi Osineye, Business Manager for Nestlé Professional in Nigeria, highlighted the company’s commitment to supporting local food vendors during tough economic times. She stated, “By offering cost-effective solutions, we hope to ensure that food businesses not only stay profitable but also contribute to the health and well-being of their communities.”
As inflation pressures continue, many vendors have had to reduce the nutritional value of their meals to maintain profit margins. Nestlé’s initiative addresses this by offering affordable, nutritious alternatives to traditional ingredients, enabling vendors to continue delivering healthy meals without sacrificing profitability.
Osaretin Okao, Managing Director of Food Bizz Support Services, encouraged vendors to innovate by exploring new ingredients and business practices to stay competitive. The event also featured a cooking competition where vendors demonstrated their culinary skills using alternative ingredients.
Additionally, Nestlé’s new CEO recently announced a leadership reshuffle and lowered sales growth expectations for 2024, marking what analysts described as a “painful reset” for the global food giant.
