…Kola Oyeneyin Unveils $1 Million Fund to Support Entrepreneurs
Nigeria’s food industry holds immense potential, but to truly unlock growth and global competitiveness, experts say entrepreneurs must gain access to affordable credit, embrace innovation, and leverage technology.
Speaking at the Nigeria Food Summit 2025, which brought together industry leaders, culinary innovators, and policymakers, experts emphasized the urgent need for financial support and technological advancements to drive the sector forward.
“The success of any industry is deeply tied to access to capital,” said Kola Oyeneyin, a seasoned investor and entrepreneur, during his keynote address. “The Nigerian food industry is brimming with potential, but we risk stalling its growth without the right funding structures.”
Oyeneyin stressed that adequate financing enables food entrepreneurs to scale, innovate, and compete on a global level. “Investing in food is not just about business; it’s about securing the future of our economy and ensuring food sustainability for generations to come,” he added.
$1 Million Fund Launched to Boost Food Entrepreneurs
To accelerate the sector’s growth, Oyeneyin announced the launch of a $1 million fund dedicated to supporting food businesses. The initiative aims to provide much-needed financial backing to food entrepreneurs, helping them expand operations, integrate modern technology, and enhance efficiency.
Positioning Nigeria as a Global Food Destination
Addressing the summit’s theme, ‘Making Nigeria a Global Destination,’ celebrated chef and culinary expert Gbalabo Adebakin, also known as Chef Gibbs, underscored the importance of showcasing Nigeria’s rich culinary heritage on the global stage.
“Nigeria’s culinary heritage is one of the richest in the world, yet it remains underrepresented globally,” Adebakin noted. “This summit is a call to action for food entrepreneurs, chefs, and policymakers to take ownership of the industry’s growth and development.”
He urged stakeholders to innovate, collaborate, and maximize the country’s abundant agricultural resources to position Nigeria as a premier food destination.
Pitch-a-thon Highlights Innovation in the Food Industry
A major highlight of the summit was the Pitch-a-thon, a high-stakes competition where three food businesses presented their innovative ideas in an elevator pitch contest.
Elizabeth Akinwole of Tblizs Foods emerged as the winner, securing N1 million worth of business support from County Support Consulting. Her prize package also included:
- An all-expense-paid trip to a Nigerian resort sponsored by Torrista.
- Free branding services from Snappcode Productions.
- Business advisory support from Food Business Consultant.
The event showcased the wealth of talent and innovation within Nigeria’s food industry and reinforced the need for continuous investment and policy support to foster sustainable growth.
With increased access to affordable credit, strategic investment in technology, and a commitment to culinary excellence, Nigeria is well on its way to becoming a global force in the food industry.
