Over 59 foreign investors in the food and hospitality industries are expected in Nigeria in October this year to seek local partnerships and viable investment options in the Nigeria.
Their eventual investment would boost foreign investments which experienced decline last year. “Foreign Direct Investment in Nigeria averaged $1.3 billion from 2007 until 2018, reaching an all-time high of $3 billion in the fourth quarter of 2012 and a record low of $435.64mMillion in the second quarter of 2018”, Trading Economics Website said.
On their arrival, the foreign investors would also participate in B2B Food and Drink and hospitality exhibition in Lagos scheduled for October 22-24 at Landmark center Lagos organised by Afrocet Montgomery, one of exhibition and events companies and which is at the forefront of trade and consumer shows in Europe, Asia, Africa and the Middle East.
Speaking to BusinessDay in Lagos, the event director, George Pearson said the Nigerian Food Event (NFE), the pioneer B2B food event in Nigeria , will not only cater to businesses operating within the food industry, but with the inclusion of two other incorporated exhibitions; the Nigerian Drink Event and the Nigerian Hospitality Event. “The cumulative exhibition will encompass three key industry segments to bring together qualified stakeholders and key industry members”.
He said the fair which will host over 85 Exhibitors, 70% which will be foreign organizations seeking viable investments in Nigeria, will see not less than two thousand five hundred visitors in attendance of the event.
He said regulators will also be participate in the fair to further educate exporters in the business of exporting.
Pearson also said that already Afrocet Montogomery has obtained strong endorsements from key stakeholders in the Industry, including Advertising Association of Nigeria, ADVAN who advocate the need to create strong meeting points for players in the Industry to seek out new avenues of collaboration. “We are excited to say, we have the full approval and support of The Advertisers Association of Nigeria, (ADVAN), who will play a key role in ensuring the top food and beverage companies in Nigeria will take part”.
Also speaking, executive director of ADVAN, Ediri Ediali said the organisation is delighted to be part of the fair as her members have seen the value derivable from the fair.
Daniel Obi
