Operators within Nigeria’s modern retail space have been charged to address the manpower gap within the ecosystem in order to drive scale and reposition it for sustainable growth.
According to Kenneth Onwundinjo, Chief Financial Officer at FoodCo Nigeria, a top 5 Nigerian retailer and operator of the largest supermarket chain in the South-West region, a dearth of skilled and experienced workforce remains a critical impediment to the growth of the sector.
Onwudijo, who was speaking at the recent graduation ceremony of the 2024 Class of the FoodCo Leadership Development Programme (LDP), stated that only a strong and consistent investment in top performing talents would strengthen Nigeria’s modern retail’s sector’s ability to cope with the myriad of challenges confronting it.
He said: “As a leading retailer in Nigeria, FoodCo is committed to building capacity in the Nigerian market by nurturing well-trained leaders equipped with the relevant skills and experience to drive growth in the industry. This is the vision behind the LDP. We are incredibly proud of this year’s graduates; their dedication, innovativeness, and resilience under pressure will be invaluable springboards for the next phase of their careers. And, to the new members of our management team, we welcome you. We are excited to have them bring on board the experiences they have acquired to contribute to the success of the company.”
While reaffirming FoodCo’s commitment towards building capacity for budding industry enthusiasts who will take on the reins of retail leadership in Nigeria, he expressed optimism that the sector would continue to show resilience amidst the tough operating environment.
Ayodele Adio, Head of Sales Operations, noted that the LDP is one of the key pillars of the company’s future growth and leadership agenda. He added: “Our business has always been guided by the ethos that when we invest in our people, we invest in the future of our business. Through the LDP, we are not only building capacity for the industry but also shaping a culture of leadership, accountability, and continuous improvement across every level of the organisation.”
The LDP is a 24-month immersive training designed to prepare young graduates for management roles in modern retail. In the just concluded cohort, three beneficiaries who demonstrated outstanding growth and leadership potential transitioned into management positions in FoodCo. They are: Abraham Oriafoh, Iyanuoluwa Olateju and Joseph Idowu.
Established in 1982 as a fresh fruits and vegetable store, FoodCo is a diversified consumer goods company with interests in retail, quick service restaurants, manufacturing and entertainment. The company was listed in the Financial Times annual ranking of Africa’s Fastest Growing Companies for the years 2021, 2022 and 2024. FoodCo is a significant contributor to the economy of South-West Nigeria, providing employment for more than 1300 people and critical access-to-market opportunities for the SME sector.
