From street food to top continental dishes, Nigeria is gradually becoming a hub for food lovers, especially with the rise of food businesses across the country.
The foodservice market is projected to reach $19.31 billion by 2030, and the overall food market is estimated to reach $227.81 billion in 2025. This, in no small way, signifies significant opportunities for both established and new businesses in the food sector.
Stakeholders in recent times have spoken on how important Nigerian food business has become in Africa’s development, including foodservice and food production which is estimated to be a large and rapidly growing market.
From Outdoor street food, to indoor and outdoor restaurants, swallow, dry and packaged food and Confectioneries; the market is expected to grow at a Compound Annual Growth Rate (CAGR) of 11.73 percent for the foodservice market and 10.73 percent for the overall food market, according to Statista.
At the heart of this growth is the GTCO Food and Drinks event which has consistently been held for eight years now.
From Nigeria to the world
GTCO Food & Drink Festival is an annual food exhibition and sales event that projects the diverse angles of the food industry by connecting various businesses involved in the production and sale of food-related items to a cosmopolitan audience of food enthusiasts.
With its maiden edition which was held for two days in 2016, the event has grown and attracted food lovers, experts and stakeholders from Nigeria, Africa and the rest of the world.
At the event, buyers connect with sellers in the food and drink industry from different parts of Nigeria and other countries.
Food exhibitors showcase and sell diverse food products ranging from fresh organic groceries to dry foods, confectionery, pastries, consumables, crockery, wine and champagnes.
Besides the exhibition, other aspects of the event include culinary experiences such as food and wine tastings, cooking masterclasses with renowned international and Nigerian chefs, and musical entertainment.
Impact on Food Industry/SMEs
Through the annual event, the federal government and stakeholders have been able to understand that the food industry is beyond just a revenue generator but offers various ranges of business opportunities and employment, including restaurants, food delivery services, catering, and packaged food production.
The growth of the middle class and increasing urbanization are driving demand for convenience foods and dining out, creating opportunities for food businesses, notes Truehost Nigeria.
For eight years, GTCO Food and Drinks Event have continued to support small and medium businesses in the food business with visibility and connectivity that has seen their businesses grow beyond their locality and Nigeria.
Participating businesses gain valuable exposure to a wider audience, helping them build brand awareness and attract new customers.
The festival provides a huge platform for SMEs to connect with new markets and potential investors, fostering growth and development.
In 2022, Temilade Agunbiade, Founder T-Crown Food and Processing, a two-time vendor at the fair, told NAN that the platform had created more patronage and visibility for her brand.
Agunbiade also lauded the company for giving back to society by promoting Small and Medium Enterprises through the platform.
“This is our second time as vendors at the GTCO Food and Drink festival and we are so excited to be part of the business growth venture.
“This is an opportunity to enjoy the ambience provided by the GTCO Food and Drink fair platform alongside our customers.
“The fair has also provided an opportunity for us to meet with investors, increase sales and gain better visibility for our business,” she said.
“We witnessed increased patronage for our business following our participation in the 2019 GTCO fair and this year we hope for more reach and to take our brand global.
“Thanks so much, GTCO for this opportunity; it is a great way of giving back to society and we appreciate it,” Agunbiade said.
Another participant, Edward Ikesa, the founder of Healthy Lifestyle Meals, in 2022 was a first time vendor at the fair.
He commended the company for the visibility.
“Our expectations at the 2022 GTCO Food and Drink fair are to reach out to more people and have a wider coverage while introducing people to healthy meals.
“We are so glad to be part of this year’s fair, GTCO has been awesome and we hope to see more of this.
“The stands are all free of charge, we do not get to pay anything to display our goods and services,” Ikesa said.
Also speaking, the Founder of Mmaabacha, a local cuisine shop, Anita Nwoye, who also spoke with NAN thanked the group for the opportunity to get more investors for her business.
“We provide meal services for local gatherings by serving local cuisines such as abacha, nkwobi, ugba and palmwine, among others.
“It is our first time at the GTCO Food and Drink Festival and we expect wider visibility for our business through this platform.
“GTCO Food and Drink fair has impacted positively on my business and has opened more doors of opportunity for us.
“I expect to broaden the scope of my business from this outing based on the contact I have started gathering,” Nwoye added.
Benefits for other sectors
For eight years, GTCO Food and Drinks have become a critical event with effects trickling down to other sectors of the Nigerian economy.
With Master classes, food businesses and several restaurants being displayed at the annual event, the logistics, aviation, travel and tourism businesses have also benefitted from the events.
With several chefs and speakers being flown from across the world into Nigeria annually, the event continues to boost passenger traffic into Nigeria.
With food and commodities being flown and driven into the event annually, the logistics and Air cargo business also has some benefits from the event.
Nigeria’s Tourism also benefits from the festival. The event showcases the diversity of Nigerian cuisine and culture to a wide audience, both domestically and internationally, while also boosting the food and beverage industry and its small businesses. The festival attracts food lovers and entrepreneurs, highlighting Nigeria’s culinary heritage and creating opportunities for networking and business growth.
The festival’s focus on food and culture attracts both domestic and international tourists, who come to experience the vibrant atmosphere and delicious food.
The Food and Beverage Industry gained hugely from the event by highlighting the industry and its entrepreneurs, the festival contributes to the overall economic development of the food and beverage sector.
Hosting global renowned chefs
Globally renowned chefs have been featured at the festival. The festival provides a space for chefs to share their expertise through masterclasses, showcasing techniques and flavours from various regions.
In 2022, some of the chefs featured were Aldo Zilli, an award-winning celebrity chef and restaurateur who specialises in Italian, vegetarian, and seafood cuisine; Yui Miles, Chinese chef; Eden Hagos, an Ethiopian-Canadian and a celebrated host, food writer, and founder of BLACK FOODIE; The Albertis, Italian Twins from Manchester.
In 2019, the event featured Luke Whearty is bar operator, restaurant innovator and drink creator; and Tregaye Fraser, a food network star; Matse Uwatse-Nnoli a prolific food blogger and Chef Shota Nakajima, the owner and Chef of Adana, a Japanese restaurant located in Seattle, Washington DC.
In 2018, some of the chefs featured include Tony Conigliaro, a titan of the UK drink scene; Muneera Tahir (Chef Muse), the Chef instructor at Red Dish Chronicles; Scott Winston a highly sort-after food business Consultant with over 20 years’ experience in the Luxury Food Retail Industry and Sunny Anderson is a food network personality amongst others.
In 2017 the event featured Raphael Duntoye, an Award-winning Chef based in London; Brian Malarkey, one of USA’s most successful and sought-after chef-restaurateurs and Lerato Umah-Shaylor, a food writer, presenter and leading voice in African cuisine.
In 2016, some chefs featured include Alex Oke, a prominent bi-national Nigerian/Russian chef; Marcus Samuelsson, an Ethiopian-born Swedish-American celebrity chef, restaurateur and television personality and Gbubemi Fregene, a popular Nigerian chef.
Looking ahead
As GTCO looks to again hold the Food and Drink festival again this year in May 2nd, 3rd & 4th, the event as always, promises to be a vibrant hub of ideas and inspiration for thriving and aspiring food entrepreneurs in Nigeria.
At the event, participants can explore the latest culinary trends and experience the vibrant atmosphere where food enthusiasts celebrate their shared passion.
