The Nigerian food market is big and expanding with the growing population of the country, accounting for why companies across the world continue to see growth opportunities in the local market.
According to the National Bureau of Statistics (NBS) Nigerian households, spending rose to N54.84 trillion in nominal terms in the first half of 2021, higher than N48.22 trillion recorded in the first half of 2020, underscoring how big the market is.
This is as expenses incurred by Nigerian households increased by 13.7 percent in the last six months of 2021 (H1) when compared with the corresponding period of 2020.
Food and grocery however has been seen to attract large spending considering that many households even in the midst of lowness spend food.
The Nigerian food & grocery retail market had total revenues of $45.7bn in 2020, representing a compound annual growth rate (CAGR) of 5.8 percent between 2016 and 2020.
Leky Mills, an indigenous agro-allied food processing company and makers of quality and affordable processed yam products having seen this opportunity has joined to boost supply of foods in the consumer market with the recent unveiling of a product chain.
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The company has been in operation for more than a year now with a clear value proposition to ease consumers’ pain points by making yams easy and convenient to prepare within minutes.
Through this commercial enterprise, Leky Mills has distinguished itself in the agricultural industry through its innovative value addition to the Nigerian staple while earning the trust of distributors, restaurants and working professionals who prioritise ease and convenience in their daily activities.
Among its newest products are – Yam sticks and Yam chips which are available in different product sizes and packaging of 600g and 2.5kg to Nigeria’s consumer market.
Leky Mills aims to provide quality and affordable processed yam products to consumers while at the same time bridging the gap between local production and household consumption in domestic and foreign markets within the short to medium term.
This vision accounts for why it recently chose Teni, as its brand ambassador, stating it was informed by her long history and deep commitment to commercial collaborations.
“We believe she has a strong personality, and with a proven track record, she engages with our target audience at a massive scale. We also want to share to the world this new innovative product that we came up with–a solution, and not just any solution, but a Nigerian and African solution to a problem that we all face. We believe Leky Mills offers those solutions by providing quality and affordable processed yam products to consumers, says founder and CEO, Derinsola Adebayo.
Kola Lawal, chief marketing officer/co-founder, added, “Our distribution will expand as we have now designed a robust distribution network and made it easy to onboard distributors into a scheme that’s profitable for all stakeholders. Initially, we were operating on a low production capacity as a result of new entry into the business space, but right now, we own a private facility with the capacity to produce a large number of products that can serve consumers in the country; majorly, Lagos.’’
Leky Mills is committed to the highest industry safety procedures with approvals, certifications, and licences from all relevant regulatory authorities in Nigeria. Through its experienced team of employees, the organisation is committed to its mission of providing consumers with ease and convenience.
