Food and beverage importers into Nigeria should take a look at the updated advice about commercial opportunities there published by the US government. “Nigeria’s Ease of Doing Business has started to show signs of improvement,” it says.
Food distributors in Nigeria and Africa should be aware of the Nigerian Government’s “Economic Recovery and Growth Plan (ERGP) in March 2017 which, amongst other objectives, prioritizes the diversification of the Nigerian economy,” says the Country Commercial Guide for Nigeria published on the on the International Trade Administration (ITA) / US Department of Commerce’s Export.Gov website.
It notes that Nigeria can be a “promising and lucrative market,” and cites a 2018 World Bank report on Business Reforms in Nigeria. This noted improvements in starting a business, getting credit and paying taxes among several attributes. Inflation had also gradually fallen to 11.23% by June 2018.
Investment in the food sector is intended to result in a 7% increase,
with national self-sufficiency in tomato paste, rice and wheat, and
Nigeria becoming a net exporter of rice, cashew nuts, groundnuts,
cassava and vegetable oil by 2020, says Export.Gov.
Visit the official website at https://fab-westafrica.com to pre-register today and see what the F&B industry from across the globe has to offer.