FoodCo, ARA Partner to Deepen Modern Retail in Nigeria
FoodCo, a Top-5 retailer and operators of the largest supermarket chain brand in South-West Nigeria, has announced a collaboration with the Lagos Business School’s Africa Retail Academy (ARA), Africa’s largest community of retail experts and practitioners, to strengthen modern retail capacity in Nigeria.
The announcement was made during a courtesy visit by an ARA delegation led by Prof. Luis Nzegwu, Head of Marketing at the Lagos Business School and Chairman of the 2026 ARA Congress, to the FoodCo head office in Ibadan.
Welcoming the team, Ade Sun-Basorun, CEO of FoodCo Nigeria who was represented by Funmi Aiyepeku, Chief Commercial Officer, commended the Academy for galvanising stakeholders towards promoting modern retail growth on the continent. She noted the significant impact on capacity building, skills exchange, policy advocacy, and collaboration within the ecosystem. Reaffirming FoodCo’s commitment to delivering world-class retail services across the value chain, she pledged that the company would work more closely with ARA in the areas of talent acquisition and development, and advocacy.
In his remarks, Prof. Nzegwu applauded FoodCo for more than four decades of contributions to the development of modern retail in Nigeria. He also praised the company’s commitment to gender inclusivity, innovation, and customer service excellence, stressing the need for sustainable stakeholder collaboration to deepen local penetration and make the African market globally competitive.
Founded in 1982, FoodCo is a diversified consumer goods company with interests in retail, restaurants, manufacturing and entertainment. With 23 stores and over 1,200 staff spread across Ibadan, Lagos and Abeokuta, the company is a major contributor to the economy of Southwest Nigeria and a critical access-to-market channel for the SME segment in the region. Additionally, FoodCo is ranked in the Financial Times list of Africa’s Fastest Growing Companies for the years 2021, 2023 and 2024.
The Africa Retail Academy is an initiative of the Lagos Business School. The Academy hosts the annual Africa Retail Congress, an event that attracts over 5,000 retail stakeholders — including operators, academics, and investors — to deliberate on topical issues affecting the retail sector in Africa.
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