‘Support for indigenous brands critical to economic growth’

Managing Director, Rite Foods, Seleem Adegunwa

By Adaku Onyenucheya 

 The Managing Director, Rite Foods Limited, Seleem Adegunwa, has called on Nigerians to support

indigenous businesses to grow and compete with international brands, create jobs for the citizens and stimulate the country’s socio-economic development.

He said indigenous food and beverage brands, that comply with global standards, were already competing with their foreign counterparts which they compel to localise their products to survive the stiff competition.

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Adegunwa, who spoke during the Rite Food Limited Brand Academy (RBA) training for journalists at Ijebu-Ode, Ogun State, said the food and beverage sub-sector remains crucial to the growth of the country’s economy.

According to the World Trade Organisation, the sector accounts 22.5 per cent of the manufacturing value and 4.6 per cent of Nigeria’s Gross Domestic Product (GDP).

Adegunwa lamented that Nigerians’ attitude toward local brands and products is disheartening, especially as they discredit them as inferior to imported brands. He said this paved the way for foreigners to dominate the Nigerian markets with their products.

He said to reposition the Nigerian market for indigenous brands to survive, Rite Foods Limited, in 2007, began local production of foods and beverages with global best practices to meet the needs of local consumers across the country.

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According to him, the company is committed to promoting the well-being of consumers by providing high-quality foods and nourishing beverages for the population and the development of its host communities.

He said the company has invested heavily in the value chains of snacks, carbonated soft drinks, energy drinks and water having established itself as a world-class indigenous company with regard for quality, healthy living, and nourishment.

Adegunwa said the company has consistently managed its brands for a sustained local appeal through its promotion of ‘Nigerianess’ strategy.

Also speaking, the Assistant Brand Manager, Rite Foods Limited, Boluwatife Adedugbe, said part of the company’s responsibility towards equipping the local consumers and contributing to the country’s economic growth is its corporate social investment in education, entertainment, talents, and communities across the country.