We implemented a wide range of protocols across all our manufacturing locations to prevent the occurrence and spread of the virus and thankfully, we did not have to shut down any of our locations due to the outbreak. The peculiarity of the period enabled us to deepen our customer relationships which enhanced our ability to sell and offer competitive trade terms.
The food and milling industry in Nigeria is a promising sector with opportunities to expand into other markets beyond Nigeria. However, the high cost of Nigerian processed food products occasioned by high input costs and other conversion costs such as power continue to negatively impact profitability, and limit investments in the sector. A general improvement in infrastructure, such as power and transportation, will go a long way in driving growth within the sector.
Furthermore, it is becoming increasingly difficult to find properly skilled workers in the manufacturing sector as our education system is not creating work-ready graduates, leading to a need for employers to make significant investments for entry level roles. Also, there is a need to focus attention on technical education and the development of technical workforce as there is a dearth of the required skills to support maintenance efforts within the manufacturing sector.
The next phase of our development is to be at the forefront of the carbohydrate industry, providing affordable, nutritious foods to our fast-growing population.