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 Turnover of Nigerian Fast Food Industry Hit a New Record of 230 Billion Naira In 2013

    Turnover of Nigerian Fast Food Industry Hit a New Record of 230 Billion Naira In 2013

    by Daniel Peng 2014-07-29

    Agusto & Co report for this week, pointed out that the fast food industry in Nigeria spontaneous growth in turnover from N200bn of 2012 to N230bn of 2013.

    2014 Industry Report pointed out, food, telecommunications, agriculture and other important sectors of the Nigerian economy is facing challenges, based on GDP, accommodation and catering industry sub-sector contributed about 0.47%: the total value of goods and services the country entitled percent compared to 0.55% in 2012.

    Fast Food Confectioners Association has revealed that Nigeria, fast food industry is currently about N250bn, has the potential for growth is second only to the oil industry.

    A statement on Thursday the company, quoted the association's president and CEO, Mrs. Pamela Adedayo, said in Lagos tourism event.

    She said, "Currently, we collectively employ over 500,000 people, distributed in different professionals and temporary workers. Layers of our government taxes and levies paid over N1bn . This industry is worth about N250bn has tremendous growth potential . "

    According to her, the growth in the fast food industry is comprised of several factors, including an increase in average household disposable income, eating out, busy and stressful schedule. She said that this makes it absolutely inconvenient to cook at home.

    She also said that despite the growth of the industry, it faces many challenges, including lack of finance, infrastructure, government and can not find enough snack food processing factories and double taxation. Equipment.He explained that, with the recent global economic downturn in the global $20 billion market, food services, is expected to grow in certain factors.

    According to her, including environmental issues, replace the product on the food service equipment, new menus, and fast food operators need to purchase new equipment food trends and technological innovation, and so on.

    She added that use less energy economy in relation to food service operators.


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