FoodCo Bags NBLA 2023 Retailer of the Year Award

FoodCo Nigeria has emerged as Retailer of The Year in the just concluded 2023 edition of the Nigerian Business Leadership Awards, NBLA. This is the 3rd time the top retailer and operators of the largest retail chain store in South-west Nigeria, will be carting away the highly coveted prize.

Organized by BusinessDay Media, Nigeria’s foremost business news and economic intelligence platform, the NBLA is an annual awards platform that recognizes exceptional business leaders and visionary companies that have made impressive strides in their sectors through innovative products, excellent services and forward-thinking executive thought leadership.

Speaking on the award, Frank Aigbogun, publisher of Businessday, commended FoodCo for its commitment to elevating standards in the Nigerian modern retail space in over 40 years of operations despite the often challenging terrain.

He described FoodCo, “as a corporate entity that has distinguished itself through agility, resilience, enthusiasm and resourcefulness in the face of Nigeria’s tough economy,” adding that the company’s selection was based on several criteria including innovation, service delivery, product quality, financial results, corporate governance, ethics and integrity.

Receiving the award on behalf FoodCo, Funmi Aiyepeku, Head of Innovation, Growth and Business Transformation, described the win as a testament to the company’s commitment to excellence and innovativeness.

She said: “We are incredibly grateful to the NBLA organizers for recognizing our efforts among the distinguished group of companies that are making a difference in their various sectors. We see this award as a motivator to remain steadfast in our pledge to always deliver superior customer service to our teeming community of customers and to Nigerians who have stuck with us for over 40 years. We are excited at the prospects for the future as we are not resting on our oars in pushing boundaries and setting new standards for excellence within the industry.”

She continued: “Staying dynamic and nimble has been vital to our sustained growth. This year, we opened two new outlets and celebrated 41 years of offering a redefined retail shopping experience to Nigerians. In an environment where 48% of businesses fail to survive within the first five years, our continued growth over several decades is a strong indicator of the goodwill and trust between FoodCo and Nigerian shoppers. This award further fuels our ambition to continue driving modern retail penetration in the country to ensure that customers, irrespective of their location and status, can enjoy the quality assurance and convenience of a truly sophisticated shopping experience.” 

Established in 1982, FoodCo is a diversified consumer goods company with interests in retail, quick service restaurants, manufacturing and entertainment. With 21 outlets spread across the Southwestern cities of Ibadan, Lagos and Abeokuta, the company operates the largest supermarket chain brand in the region, outside Lagos, and is one of only two omni-channel retailers in the country. FoodCo was listed among Africa’s Fastest Growing Companies by Financial Times for 2021 and 2022.

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