Nestle Nigeria: 58 years company laments of raw materials input

Kindly Share This Story:

Despite unpredictabLe changes in the business environs along with the high operating costs driven by the increased prices of raw materials and cost of doing business, our revenue increased by 9% and profit after tax was 28% higher than our achievement in 2017.

The Chairman, mr David Ifezulike said since Nestle Nigeria started in the country 58years ago, the company has not looked back. It continues to invest in the development of its people, in the innovation of new products to meet consumer needs and preferences and in new facilities to help achieve the organization’s growth objectives.
Mr Ifezulike stated this during the company’s 50th annual general meeting held on Tuesday in Lagos
He said the company has spent N52billion on productive investment across its manufacturing operations and substantial amount in creating shared value. According to the  report excerpts from annual reports said creating shared value is embedded in the  way Nestle does business.
“One of the ways we do business is by sourcing raw materials for our productions locally from responsible local sourcing of raw materials. “
“Today, about 80% of the agricultural input in our production is sourced locally. Currently, 100% of the grains and legumes used in Golden Morn are locally sourced, said the report; the malt in Milo is made from sorghum supplied by smallholder farmers from north western part of the country.
“We have worked on local sourcing of raw materials since 2011 and today, about 80% of the agricultural input (excluding diary ) come from local farmers and suppliers.
“We work alongside partners including international fertilizer development centre  (IFDC) and United States Agency for International Development  (USAID) to build the capacity of the over 40000 farmers who supply maize,soybean, sorghum and millet to our factories in sustainable farming practices thereby increasing productivity and improving crop quality.
“The company purchasing directly from small-scale suppliers and aggregators, we not only seek to protect the supply and quality of our raw materials, but also to have a positive, long-term impact on the local economy and standards of living of rural communities.
“At Nestle, we recognise the growing challenge and the collective responsibility to manage the world’s resources for future generations.”

Kindly Share This Story:

Related Post

Leave a Reply

Your email address will not be published. Required fields are marked *

amehnews greetings

x
%d bloggers like this: