Nestle Nigeria plc: Resilience amid economic headwinds, shrinking consumer wallet

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The urban population in Nigeria grow is growing at 4.6% per annum and by implication, an increasing number of Nigerians participate in the cash economy and have become consumers. However, one would expect players in the nation’s FMCG to enjoy booming sales and profitability. Sadly, this is not the case. The last recession, the worst in 25years left consumers with shrinking wallet, while manufacturers are left to bear the growing cost of operation as they could not pass the cost to the already cash-strapped consumers.

Also, the economic headwinds left several FMCGs struggling to find their footing, while few have been able to triumph and shine in the midst of economic adversity, thus conferring the tag of Primus inter pares (first among equals) on them.

Nestle is the world’s largest food and beverage company with operations in over 190 countries with its Headquarters in Switzerland. The company commenced operations in Nigeria in 1961 and was listed on the nation’s bourse in 1979. From its first factory commissioned in 1982, Agbara, Ogun-State, it currently has 3 manufacturing sites with a recently commissioned water factory in Abaji, outskirt of the FCT.

Nestle’s Management Team

The Board of directors of Nestle Nigeria Plc is made up of individuals from diverse academic and professional backgrounds. They include David Ifezulike as the chairman, who joined the company in 1980 and served the company in various capacities spanning over 26 years. Maurico Alarcon, a Mexican who is the Managing Director/ Chief executive officer, other Nigerian on the board include Gbenga Oyebode, who is the chairman of several listed companies including a non-executive director of MTN Nigeria, Ndidi Nwuneli is an entrepreneur with over 25 years of experience and also serves on the board of several quoted companies. Others foreign directors include Jagdish … Read More...

Nestlé, LBS partner to advance nutrition, others through reportage

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Nestlé Nigeria and the Lagos Business School Sustainability Centre collaborated to host a four-day workshop to advance understanding and inclusion of sustainable development concerns in media coverage for journalists in Nigeria.

Facilitated by LBS faculty, Nestlé Nigeria resource persons and health and nutrition experts, the workshop engaged and empowered media personnel with the knowledge of Creating Shared Value (CSV), Nutrition Health and Wellness (NHW), the Sustainable Development Goals (SDGs), sustainability, climate change, and food sufficiency, particularly in the Nigerian and African context.

The sessions,which took place from April 9 – 12, 2019, highlighted Creating Shared Value (CSV) as a sustainability advancement approach. It also focused on Nutrition, Health and Wellness (NHW) and their importance to the Nigerian media.

Sustainable development issues such as nutrition, food security, health, and wellness affect everyone in society. Since the media has the responsibility of educating the public, it is important that they understand these issues and are equipped to communicate the same to various stakeholders and demographic groups.

Participants gained an understanding of how to integrate Nutrition, Health and Wellness (NHW) in media narratives and national discourse. The expected outcome is to enhance their ability to interpret and report stories with proper priority for Nutrition, Health, and Wellness (NHW). This in turn will provide individuals and families with the information needed to make the best nutritional choices for their needs.

LBS alumnus and pioneer Professor of Food Science and Technology, Bells University of Technology, Olugbenga Ogunmoyela, used several case studies to explain journalism and the health of a nation. Explaining the concept of context in NHW reportage, Ogunmoyela listed some examples of contextual controversies that are often perpetuated by the media.

They include but are not limited to ‘Obesity, hypertension and diabetes are diseases of affluence’, ‘Eggs and meat … Read More...