Erisco Foods Says Sales up by 20% on Tomato Policy

Nume Ekeghe

Erisco Foods has said that its sales have risen by 15 to 20 percent due to the Tomato Policy that was recently approved by the federal government.

Speaking to journalists in Lagos on Wednesday, CEO of Erisco Foods, Eric Umeofia said the policy has also attracted a consortium of Asian investors who now want to partner him to set up the biggest tomato paste plant in Nigeria.
Umeofia said: “The capacity of the plant will be 750,000 metric tonnes per annum and can employ up to 10,000 to 15,000 factory workers and 50,000 farmers in full phase.”

“This project is scheduled to commence in the first quarter of 2018 and will be completed in two years’ time provided that CBN and other regulatory agencies ensure the full implementation of the tomato paste ban.”
He said the economy will experience a turn over soon due to the collaboration and will increase the country’s GDP, while bringing importation to a stand-still.

According to him, the project can only come to fruition if the CBN will provide more foreign exchange to indigenous manufacturers, while NAFDAC stops registering foreign brands of tomato paste dealers in retail packs.

He also canvassed support for made-in-Nigeria products, urging Nigerians to take the campaign as a personal project for the benefit of the future generation.

Umeofia commended the president for his countless efforts to promote industrialisation and the support given to indigenous manufacturers, saying that Nigeria’s exit from recession was based on his strong determination, incorruptible nature and economic policy in terms of your insistence that Nigeria should eat what we have and produce what we need.

“We believe in industrialising Nigeria and we need to support and create innovation in support of our country as done in China, USA, India and other countries who closed their borders when they were in need and later emerged stronger to the amazement of the world.”

“Worthy of mention is the ban on all brands of tomato paste in retail packs in Nigeria including the poisonous and substandard products to stop hunger, [poverty and other related problems,” he stated.