Seleem Adegunwa, the Chief Executive Officer and Managing Director of Rite Foods Limited based in Ijebu Ososa, Ogun State, has announced that the company's substantial investment in the beverages, drinks, and sausages sector, amounting to billions of naira, is driven by a commitment to enhance the national economy and address unemployment challenges.

Adegunwa emphasized that Rite Foods is a fully Nigerian-owned enterprise, embodying the vision of an individual dedicated to utilizing his God-given resources to contribute positively to the economy and society, thereby transforming the narrative for the benefit of all.

He urged Nigerians to act as change agents within their communities, fostering initiatives that would further promote the nation's economic growth.

This statement was made by Adegunwa, who was represented by the Chief Operating Officer, Dr. Kehinde Onijingin, during a brand training session and facility tour for journalists held on Friday.

The CEO noted that Rite Foods, which was established in 2007 following the diversification of its parent company, Fototec, from photography to the production of sausages and carbonated beverages in 2016, has successfully captured a significant portion of the Nigerian market, effectively competing with established multinationals in the industry.

He stated that “Rite Foods Limited is a fully Nigerian enterprise that stands out on a global scale due to its impressive facilities. The equipment and technology showcased here are comparable to those found in similar businesses worldwide.

“This approach is intentional, as we are committed to excellence and aim to provide the highest quality products to Nigerians and customers globally.

“Historically, this sector was dominated by multinational corporations, but we have successfully changed that narrative, as our core values are excellence, innovation, and accountability.

“We have invested billions of naira into this venture, motivated by our desire to contribute to economic growth and address issues of unemployment and poverty in the nation.”

The head of Corporate Affairs and Sustainability, Mr. Ekuma Eze, respectfully urged the government at all levels to prioritize attracting local investors over foreign investors.

Eze emphasized that the remarkable success of Rite Foods Limited within a few years of operation, with approximately 3,000 direct employees and thousands of indirect jobs created along the value chain, serves as a compelling demonstration that local investors possess the capability to drive economic growth and prosperity for the nation.

He stated that “the influence of this multibillion naira investment on the Nigerian economy is significant. He noted that if foreign investors were involved, they would likely repatriate their profits to enhance their own countries' economies.

“In contrast, local investors tend to reinvest their earnings to grow their businesses and generate additional employment opportunities.

“He emphasized that instead of downsizing during challenging economic times, they have continued to hire more staff.

“Therefore, he believes it would be beneficial for the government to bolster its support for local investors, as this is essential for economic growth.”

The company places a strong emphasis on integrity, excellence, and innovation in order to fulfill its commitment to customer satisfaction.

Eze praised the visionary leadership of the company’s Chairman and founder, Alhaji Adebola Adegunwa, describing him as a beacon of hope whose unwavering dedication to bolstering the nation’s economy serves as an exemplary model for others to follow.