50% Of Biscuit Manufacturers Shut Down In 30 Years

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50% Of Biscuit Manufacturers Shut Down In 30 Years — MAN - Business - Nairaland

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50% Of Biscuit Manufacturers Shut Down In 30 Years — MAN by treesun: 8:00am On Apr 30

The Biscuit and Bakery Products sub-sector of the Manufacturers Association of Nigeria has said that half the players in the business have crashed out in the last three decades.

The revelation was made by the chairman of the sub-sector, Fola Osibo, during the group’s annual general meeting held recently in Lagos.

According to Osibo, over the years, biscuit manufacturing in Nigeria has gone through challenging periods, some of which have threatened the continued existence of local manufacturers in the country.

Those challenges, he said, had ranged from strangulating policies, to uncontrolled raw material costs and availability, and unfair competition with mostly cheap foreign biscuits imported into the market.

Osibo said, “Looking back about 30 to 40 years, biscuit manufacturing operations was thriving in this country, policies were supportive of local manufacturing, raw materials were readily available, and our association had up to 40 members scattered all over the country.

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“Then suddenly, the economic situation started going southwards, and our sub-sector started facing economic disruptions, and unfavourable policies which impacted negatively on our operations. Most companies could not cope as margins were completely eroded caused by rising costs of operations, and they started closing shops.

“Unfortunately, our sector has been neglected over the years, and the various government policies have impacted negatively on our operations. Growth of local biscuit production has therefore been stunted and the number of those still in operation has shrunk to only about 15 to 20 companies.”

He called on the Federal Government to initiate responsive and local production-friendly policies to save the sector and prevent it from completely collapsing.

Part of the group’s prayers to the government included the removal of Value Added Tax (as was the situation between 1999 to 2007), reduction of net import duty on biscuit flour to 20 per cent and import duty reduction on some key raw materials such as liquid glucose, hydrogenated fat, and flavourings.

In his presentation, the Plant Director, Cadbury Nigeria Plc, Akinwande Owen, outlined fluctuation in foreign exchange rate, low consumer purchasing power, talent development and migration/relocation, multiple taxation, and government policies as the key challenges facing the manufacturing industry.

https://punchng.com/50-of-biscuit-manufacturers-shut-down-in-30-years-man/

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Re: 50% Of Biscuit Manufacturers Shut Down In 30 Years — MAN by SoNature(m): 8:06am On Apr 30

Companies are shutting down and many other are reporting losses. On the other hand, rich people who are supposed to set up new companies to create new jobs are busy setting up universities. Where will all the graduates work when they finish from school? The coming years will be extremely tough in Nigeria.

45 Likes 4 Shares

Re: 50% Of Biscuit Manufacturers Shut Down In 30 Years — MAN by Racoon(m): 8:14am On Apr 30

Especially Okin Biscuits in Osun State. Don't know if it is still in the market again. Balabloo-blu-bulava druggie infested economy is not favourable for big business owners. Now imagine what is happening to SMEs. Election has consequences.

33 Likes 1 Share

Re: 50% Of Biscuit Manufacturers Shut Down In 30 Years — MAN by Nazgul: 9:32am On Apr 30

Rather than build a conducive environment for businesses in the country to thrive, they'd rather choke them with multiple taxation, harsh policies, unfriendly business environment...etc.

Then they'll come on air and tell us how they plan to woo foreign investors into the country. Whereas the ones they have are leaving in their numbers. Do you think a foreigner would just dump millions of dollars into your country without investigating if your country has a business friendly environment?

Nigerian leaders are one of the worst in the world.

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Re: 50% Of Biscuit Manufacturers Shut Down In 30 Years — MAN by Tetrahedron(m): 9:32am On Apr 30

Re: 50% Of Biscuit Manufacturers Shut Down In 30 Years — MAN by Brendaniel: 9:33am On Apr 30

One of the sypmtoms of bad governance back to back...

Just a quick reminder that Igbos have not ruled Nigeria in more than 50 years back...

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Re: 50% Of Biscuit Manufacturers Shut Down In 30 Years — MAN by Alexyswiss(m): 9:33am On Apr 30

But no be lie ooh. I've not seen a lot of brands of biscuit these days oh.

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Re: 50% Of Biscuit Manufacturers Shut Down In 30 Years — MAN by ZUKKYY(m): 9:33am On Apr 30

E no easy to run successfully business in Nigeria now because of bad economy embarassed

6 Likes 1 Share

Re: 50% Of Biscuit Manufacturers Shut Down In 30 Years — MAN by EmmyMaestro(m): 9:35am On Apr 30

Very soon we will soon see Dangote Biscuit cool

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Re: 50% Of Biscuit Manufacturers Shut Down In 30 Years — MAN by Cindypresh(f): 9:36am On Apr 30

And 45% of this stat was under the disastrous Apc government.

Shame on them and their online mobs

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Re: 50% Of Biscuit Manufacturers Shut Down In 30 Years — MAN by Zxcvbnmghtr: 9:36am On Apr 30

While over 120% new ones have sprang up. Same with detergents, stationary and many more. Competition by younger generation of business minds have chased out the older ones who are very much monopoly inclined. If you know anybody who is into provision business you will see this very clearly. In the past, there are very, very little varieties of biscuits, but today. THEY ARE UNCOUNTABLE.

Again, Soya beans farmers are becoming richer and richer because the demand for their Soya beans by these biscuit factories is so high. So high that they hardly meet their demand. Which is one of the reasons why lots of farmers are not so much into planting food crops in recent times but cash cross which fetches them quick money. The old biscuit factories have been replaced by modern ones run by new ideas and innovations.

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Re: 50% Of Biscuit Manufacturers Shut Down In 30 Years — MAN by ClassicNairan: 9:36am On Apr 30

Perhap because people has realised nothing special about baking biscuit, anyone can do it at home.

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Re: 50% Of Biscuit Manufacturers Shut Down In 30 Years — MAN by AbujaLagos: 9:37am On Apr 30

Racoon:
Especially Okin Biscuits in Osun State. Don't know if it is still in the market again. Balabloo-blu-bulava druggie infested economy is not favourable for big business owners. Now imagine what is happening to SMEs. Election has consequences.

osun or kwara

4 Likes

Re: 50% Of Biscuit Manufacturers Shut Down In 30 Years — MAN by yahoodetector: 9:40am On Apr 30

Racoon:
Especially Okin Biscuits in Osun State. Don't know if it is still in the market again. Balabloo-blu-bulava druggie infested economy is not favourable for big business owners. Now imagine what is happening to SMEs. Election has consequences.

Okin Biscuits Factory wey don turn to snake, lizard and rat headquarters

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Re: 50% Of Biscuit Manufacturers Shut Down In 30 Years — MAN by iwaeda: 9:45am On Apr 30

Racoon:
Especially Okin Biscuits in Osun State. Don't know if it is still in the market again. Balabloo-blu-bulava druggie infested economy is not favourable for big business owners. Now imagine what is happening to SMEs. Election has consequences.

Okin biscuits is in Kwara, Ijagbo near Offa and Ajase-Ipo. grin

9 Likes

Re: 50% Of Biscuit Manufacturers Shut Down In 30 Years — MAN by iwaeda: 9:46am On Apr 30

treesun:

https://punchng.com/50-of-biscuit-manufacturers-shut-down-in-30-years-man/

Okin founded by Emmanuel Adesoye of Blessed memories. grin

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Re: 50% Of Biscuit Manufacturers Shut Down In 30 Years — MAN by Stevenson20: 9:47am On Apr 30

Buharinomics and the great Tinubulation effects.

1 Like

Re: 50% Of Biscuit Manufacturers Shut Down In 30 Years — MAN by Temiii69(m): 9:48am On Apr 30

Perhaps poor management skills on thier end.

Re: 50% Of Biscuit Manufacturers Shut Down In 30 Years — MAN by Harddiskng(m): 9:50am On Apr 30

Kai. Okin of blessed memories 😭

iwaeda:

Okin founded by Emmanuel Adesoye of Blessed memories.

4 Likes

Re: 50% Of Biscuit Manufacturers Shut Down In 30 Years — MAN by Kennitrust(m): 9:50am On Apr 30

If it was a northerners that manufactured vehicles in Nigeria, the government would have stop importation of vehicles into the country.

That's why we can't buy cement today

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Re: 50% Of Biscuit Manufacturers Shut Down In 30 Years — MAN by CheapHomes1: 9:58am On Apr 30

Alexyswiss:
But no be lie ooh. I've not seen a lot of brands of biscuit these days oh.

even the ones that are still operating have drastically cut down on quality and quantity in order to stay afloat

6 Likes

Re: 50% Of Biscuit Manufacturers Shut Down In 30 Years — MAN by Advision: 10:01am On Apr 30

Zxcvbnmghtr:
While over 120% new ones have sprang up. Same with detergents, stationary and many more. Competition by younger generation of business minds have chased out the older ones who are very much monopoly inclined. If you know anybody who is into provision business you will see this very clearly. Even shoes are made in every corner of Nigeria.

this one just took his fermented agbado this morning

8 Likes 1 Share

Re: 50% Of Biscuit Manufacturers Shut Down In 30 Years — MAN by Nahunger(m): 10:02am On Apr 30

Watin jennyclay go dey chop nau 🥲
Iké gwúrù

1 Like

Re: 50% Of Biscuit Manufacturers Shut Down In 30 Years — MAN by Pootle: 10:03am On Apr 30

okin biscuit in offa i pass through that place some time ago i packed to see and admire in sorrow how and why the company shut down

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Re: 50% Of Biscuit Manufacturers Shut Down In 30 Years — MAN by CodeTemplar: 10:07am On Apr 30

Thos report talks of a trend that occurred over 30 years.

Re: 50% Of Biscuit Manufacturers Shut Down In 30 Years — MAN by chudez0147(m): 10:09am On Apr 30

Racoon:
Especially Okin Biscuits in Osun State. Don't know if it is still in the market again. Balabloo-blu-bulava druggie infested economy is not favourable for big business owners. Now imagine what is happening to SMEs. Election has consequences.

God bless you . My Okin

Re: 50% Of Biscuit Manufacturers Shut Down In 30 Years — MAN by Kukutenla: 10:14am On Apr 30

Who biscuit epping? Biscuit lead to health issues like diabetes. We're better off without them. Besides, they couldn't innovate so they died~ Zombies

Re: 50% Of Biscuit Manufacturers Shut Down In 30 Years — MAN by Meti99(m): 10:20am On Apr 30

Gfs

Re: 50% Of Biscuit Manufacturers Shut Down In 30 Years — MAN by Mosdiii(m): 10:30am On Apr 30

Pootle:
okin biscuit in offa i pass through that place some time ago i packed to see and admire in sorrow how and why the company shut down

The old man died, unfortunately the children could not continue their father's legacy. It's better to have one good child than a battalion of useless children.

4 Likes 1 Share

Re: 50% Of Biscuit Manufacturers Shut Down In 30 Years — MAN by NoToPile: 10:37am On Apr 30

Pootle:
okin biscuit in offa i pass through that place some time ago i packed to see and admire in sorrow how and why the company shut down

That okin pain me ehn, the shortcake was the bomb.

2 Likes 1 Share

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