Nestlé Nigeria’s “Business of Food” workshop series, now in its ninth edition, has emerged as a vital support system for over 2,000 food vendors in Lagos, providing them with essential business management skills to navigate the challenging economic landscape marked by rising operational costs and inflation. The initiative, extending its reach across nine states in Nigeria, specifically targets food businesses such as canteens, grillers, and event planners, equipping them with strategies to maintain profitability while upholding the nutritional quality of their offerings. Recognizing the pressures faced by vendors in the current economic climate, Nestlé aims to empower these crucial players in the food industry to adapt, thrive, and continue serving their communities.
The core objective of the “Business of Food” workshop is to provide food vendors with practical solutions and tools to combat the adverse effects of inflation on their businesses. The rising costs of ingredients often force vendors to compromise on the nutritional value of their meals to sustain profit margins, a concerning trend that Nestlé seeks to address. By introducing affordable and nutritious alternatives to traditional ingredients, the workshop empowers vendors to maintain the nutritional integrity of their meals while safeguarding their profitability. This dual approach not only ensures the economic viability of these small businesses but also contributes to the overall health and well-being of the communities they serve.
Nestlé’s commitment to supporting local food vendors stems from a recognition of their vital role in the food ecosystem. Funmi Osineye, Business Manager for Nestlé Professional in Nigeria, emphasizes the company’s belief in empowering these entrepreneurs with the knowledge and resources necessary to not only survive but thrive in challenging economic times. The initiative reflects a broader corporate social responsibility, demonstrating Nestlé’s dedication to fostering sustainable food systems and supporting the local economies that depend on these small food businesses. The “Business of Food” workshop is a tangible investment in the future of these vendors and the communities they nourish.
Beyond providing cost-effective solutions, the workshop also encourages innovation and adaptability. Osaretin Okao, Managing Director of Food Bizz Support Services, challenged participants to explore new ingredients and business practices to enhance their competitiveness. This emphasis on continuous learning and adaptation is crucial for the long-term success of these businesses, enabling them to respond effectively to evolving market demands and economic pressures. The workshop creates a platform for knowledge sharing and encourages vendors to embrace new approaches, fostering a culture of resilience within the food vendor community.
A key element of the workshop is a cooking competition, providing participants with a platform to showcase their culinary creativity using the alternative ingredients introduced during the training. This practical application of the newly acquired knowledge allows vendors to experiment with new recipes and demonstrate their ability to incorporate these cost-effective, nutritious alternatives into their menus. The competition not only fosters a spirit of healthy competition but also serves as a valuable learning experience, allowing participants to receive feedback and refine their culinary skills. This hands-on approach reinforces the workshop’s teachings and empowers vendors to implement the learned strategies within their own businesses.
While Nestlé’s commitment to supporting local food vendors in Nigeria demonstrates a positive initiative, the company faces its own set of challenges on a global scale. The recently announced leadership reshuffle and lowered sales growth expectations for 2024 signal a period of recalibration for the food giant. This “painful reset,” as described by analysts, highlights the complexities of operating within a global market characterized by fluctuating economic conditions and evolving consumer demands. The contrasting realities of Nestlé’s local initiatives, such as the “Business of Food” workshop, and its global challenges underscore the dynamic nature of the food industry and the need for continuous adaptation at all levels, from small local businesses to multinational corporations.
