Annual Revenue From Food Valued at Over N200 Billion

At a press conference held in Lagos to announce the second annual national conference of AFFCON in Lagos scheduled for October 10, 2014, Mrs. Bose Ayeni, the President of the Association of Fast Food Confectioners of Nigeria (AFFCON), stated that prospective investors should prepare as they stand to benefit a lot from Nigeria’s economy because it’s a goldmine that is waiting to be tapped. She said: “In spite of the huge challenges Nigeria is grappling with, the size of our GDP shows that our economy is a goldmine waiting to be tapped. And food is essential to keep our large population of 170 million alive, nourished and going.” Mrs. Ayeni also drew the public’s attention to urbanization and rapid rise in social media penetration as factors that would propel business. “Globally, we are living through the largest wave of urbanisation in history,” said the AFFCON President. “Urban population, being more prosperous, aided by the steady decline in poverty arising from economic growth, will give rise to a greatly expanded consumer group. We as operators must understand the nature of this expanding consumer group. In Nigeria, they are largely youthful and culturally diverse. We must understand the strategies required to reach them.“ “Between 2012 and 2013, total global social media audience increased from 1.47b to 1.73b. With 25% of the population now online using social networks, we cannot be left out of the opportunities that abound in tapping into the use of social tools for business values. It is against this trend that for this year’s conference, we have a sub-theme of how we can utilize Technology to improve our business effectiveness.” AFFCON’s national conference will hold at Eko Hotel and Suites, Victoria Island, Lagos, Friday, October 10, 2014. Lagos State Governor, Mr. Babatunde Raji Fashola, will be present as special guest of honour, while Ms. Evelyn Oputu, former Managing Director of Bank of Industry, is expected to give the keynote speech under the theme: ‘Food Industry in Nigeria: Challenges and Opportunities.’