NutriMart Foods: Foodstuff Business Plan in Nigeria 2025

Introduction

The foodstuff business in Nigeria is a cornerstone of the retail and agricultural sectors, driven by the country’s population of over 200 million and a cultural reliance on staple foods like rice, beans, yam, and spices. With a market value exceeding NGN 1 trillion annually, the sector thrives on consistent consumer demand and the rise of urban retail. NutriMart Foods, a startup launching in 2025 in Victoria Island, Lagos, aims to capitalize on this opportunity by offering high-quality foodstuffs through retail, wholesale, and online sales. This article outlines a comprehensive business plan for NutriMart Foods, detailing its strategy to become a leading foodstuff supplier in Nigeria’s vibrant market.

Description

NutriMart Foods is a retail and wholesale foodstuff business specializing in staple foods, including rice, beans, garri, yam, spices, and vegetable oils, sourced directly from local farmers and wholesalers. Located in Victoria Island, Lagos, NutriMart will operate a physical store and an e-commerce platform, offering fresh, affordable, and hygienically packaged products. By leveraging partnerships with local farmers and modern inventory management systems, we ensure quality and affordability. Our mission is to provide accessible, high-quality foodstuffs while promoting local agriculture and sustainable packaging, positioning NutriMart as a trusted brand in Nigeria’s food supply chain.

Address

Business Address: Plot 22, Ahmadu Bello Way, Victoria Island, Lagos, Nigeria
Operational Facilities: A 1,500-square-foot retail store with storage facilities and 10 parking spaces, strategically located near offices and residential areas, with proximity to Mile 12 Market for sourcing.
Corporate Contact: Reach us at in**@************ds.ng or via our website (to be launched).

Founder and Owner

Founder and Owner: Fatima Usman (60% share, CEO), an agribusiness expert with 8 years of experience in food retail, and Chike Obi (40% share, Operations Manager), a supply chain specialist with 6 years in logistics. Fatima holds a B.Sc. in Agricultural Economics from Ahmadu Bello University, while Chike has an MBA from Lagos Business School.

Services

Retail Sales: Staple foods (rice, beans, garri, yam, spices, vegetable oils) for households and small businesses.
Wholesale Supply: Bulk sales to restaurants, schools, and retailers.
Online Sales: E-commerce platform for doorstep delivery of foodstuffs within Lagos.
Custom Packaging: Hygienic, eco-friendly packaging for bulk and retail orders.
Sourcing Consultancy: Connecting buyers with local farmers for direct supply.
Value-Added Services: Subscription-based weekly/monthly foodstuff delivery for households.

Price Range

Retail Sales: Rice (NGN 1,000–2,000/kg), beans (NGN 800–1,500/kg), garri (NGN 500–1,000/kg), yam (NGN 1,500–3,000/tuber), spices (NGN 200–1,000/pack).
Wholesale: 10–20% discount on bulk orders (e.g., 50kg rice at NGN 45,000).
Delivery: NGN 1,000–5,000, based on distance.
Subscription Plans: NGN 10,000–30,000/month for household bundles.
Consultancy: NGN 50,000–200,000 per project.
Note: Prices align with market rates (e.g., Mile 12 Market) and are subject to seasonal fluctuations.

Social Media Accounts

Twitter/X: @NutriMartNG (https://x.com/NutriMartNG)
Instagram: @nutrimartfoods (https://www.instagram.com/nutrimartfoods)
LinkedIn: NutriMart Foods (https://www.linkedin.com/company/nutrimartfoods)
Note: Social media accounts will be activated upon business launch in 2025.

Official Website

www.nutrimartfoods.ng (to be launched in Q1 2025) – For product details, online orders, and inquiries.

Executive Summary

NutriMart Foods is a foodstuff retail and wholesale business launching in 2025 in Victoria Island, Lagos, Nigeria, offering staple foods like rice, beans, garri, yam, and spices. Targeting households, restaurants, and retailers with incomes above NGN 150,000/month, we aim to sell 50 tons of foodstuffs and process 5,000 online orders in year one, generating NGN 50 million in revenue. Nigeria’s foodstuff market, valued at NGN 1 trillion, grows at 8% annually, driven by population growth and e-commerce. Our strategic location in Victoria Island ensures access to affluent clients and proximity to sourcing hubs like Mile 12 Market. We seek NGN 20 million in funding for inventory, store setup, and marketing, projecting a 40% ROI by year two. Our competitive edge lies in quality sourcing, eco-friendly packaging, and a robust e-commerce platform, positioning NutriMart as a leader in Lagos’ foodstuff market.

Company Description

Business Name: NutriMart Foods
Location: Plot 22, Ahmadu Bello Way, Victoria Island, Lagos, Nigeria
Legal Structure: Limited Liability Company (LLC), registered with the Corporate Affairs Commission (CAC)
Business History: Founded in 2025 by Fatima Usman and Chike Obi to meet Nigeria’s growing demand for quality foodstuffs, leveraging direct farmer partnerships.
Mission: To provide fresh, affordable, and hygienically packaged foodstuffs while supporting local agriculture and sustainability.
Vision: To be Lagos’ leading foodstuff supplier by 2030, known for quality, accessibility, and innovation.
Goals:

Short-term: Sell 50 tons of foodstuffs, process 5,000 online orders, and achieve NGN 50 million in revenue in year one.
Long-term: Expand to Abuja and scale online sales to 40% of revenue by 2028.
Why Victoria Island?: Affluent clientele, high foot traffic, and proximity to Mile 12 Market ensure strong demand and efficient sourcing.

Market Analysis

Industry Overview: Nigeria’s foodstuff market, valued at NGN 1 trillion, is driven by a population of 200 million and weekly household purchases. Lagos accounts for 35% of national sales, with Victoria Island contributing 10% due to its upscale demographic.
Target Market: Households, restaurants, and retailers with incomes above NGN 150,000/month, spending NGN 5,000–50,000 weekly on foodstuffs.
Market Size: Lagos’ foodstuff market is worth NGN 350 billion annually, with Victoria Island’s share at NGN 35 billion.
Competitors:

Direct: Mile 12 Market wholesalers, FoodCo supermarkets.
Indirect: Local vendors, informal traders.
Competitive Advantage: Direct farmer sourcing, eco-friendly packaging, and seamless online/offline sales.
Market Trends: Growth in e-commerce (25% of retail), demand for hygienically packaged foods, and subscription-based delivery models.
Opportunities: Rising middle class, e-commerce expansion, and partnerships with restaurants and schools.

Organization and Management

Structure:

CEO: Fatima Usman, oversees sourcing, quality, and strategy.
Operations Manager: Chike Obi, manages logistics, finances, and marketing.
Store Manager: To be hired, supervises retail and inventory.
Staff: 4 sales associates, 2 delivery drivers, 2 warehouse staff, 1 accountant, 1 cleaner (10 total).
Experience: Fatima has 8 years in food retail; Chike has 6 years in logistics.
Advisory Team: Engaging an agribusiness consultant and Lagos Chamber of Commerce mentor.
Legal: Register with CAC (NGN 50,000), obtain NAFDAC approval for packaged foods, and secure Tax Identification Number (TIN).

Services

Services:

Retail and wholesale of foodstuffs (rice, beans, garri, yam, spices, oils).
Online sales with doorstep delivery.
Custom packaging for bulk orders.
Sourcing consultancy for businesses.
Subscription-based delivery plans.
Unique Selling Proposition: High-quality, locally sourced foodstuffs, eco-friendly packaging, and convenient online ordering.
Pricing: Retail ~NGN 500–3,000/kg; wholesale ~NGN 45,000–100,000/50kg; delivery ~NGN 1,000–5,000; subscriptions ~NGN 10,000–30,000/month.

Marketing and Sales

Marketing Strategy:

Digital Presence: Launch a Shopify-based website (NGN 500,000 setup) and social media campaigns on Twitter/X, Instagram, and WhatsApp targeting Lagos households and businesses.
Events: Participate in Lagos Food Fest and local trade fairs.
Promotions: Offer 15% discounts on first online orders and loyalty programs for repeat customers.
Partnerships: Collaborate with restaurants, schools, and event planners for bulk supply.
Sales Strategy:
Direct sales via retail store and online platform.
Wholesale contracts with businesses.
Delivery via dispatch riders for same-day service.
Customer Acquisition: Target 5,000 retail customers and 50 wholesale clients in year one with NGN 1.5 million marketing budget.

Financial Projections

Startup Costs: NGN 20 million

Store rental (Victoria Island, 1 year): NGN 4 million
Inventory (50 tons of foodstuffs): NGN 8 million
Store furnishing (shelves, display, cooling units): NGN 3 million
Delivery vehicles (2 vans): NGN 2.5 million
Marketing and website: NGN 1 million
Staff salaries (3 months): NGN 1 million
Miscellaneous (permits, utilities): NGN 0.5 million
Revenue Projections:
Year 1: NGN 50 million (50 tons at NGN 800,000/ton avg., 5,000 online orders at NGN 2,000 avg.)
Year 2: NGN 80 million (75 tons, 8,000 online orders)
Year 3: NGN 120 million (expansion to Abuja, increased subscriptions)
Profit Margins:
Year 1: NGN 15 million (30% margin after NGN 35 million expenses)
Year 2: NGN 32 million (40% margin)
Year 3: NGN 54 million (45% margin)
Break-even Analysis: Achieve break-even within 12 months with 35 tons sold and 3,500 online orders.
Funding: Seeking NGN 20 million loan from Bank of Agriculture at 10% interest, repayable over 4 years, or investor equity (20% stake).

Growth Strategy

Year 1: Establish operations in Victoria Island, focus on retail and wholesale, and build online presence.
Year 2: Scale to 75 tons, expand delivery network, and introduce subscription plans.
Year 3: Open a second store in Abuja, scale online sales to 40% of revenue, and explore West African markets.
Sustainability: Use eco-friendly packaging and solar-powered storage (NGN 1 million investment).
Training: Offer sourcing workshops to 50 clients annually, enhancing brand visibility.

Notes

Data Sources: Market data from samphina.com.ng, counseal.com, and Nigerian agribusiness reports. Pricing aligns with X posts (e.g., rice at NGN 1,000–2,000/kg).
Challenges: Price volatility, storage issues, and competition from informal vendors. Mitigation includes bulk sourcing, cold storage, and quality packaging.
Legal Requirements: Register with CAC (NGN 50,000), obtain NAFDAC approval, and secure TIN.
Recommendations: Partner with Mile 12 wholesalers, use Shopify for e-commerce (NGN 500,000 setup), and leverage Lagos Food Fest for exposure. Monitor trends via Nigerian Agribusiness Group reports.

Conclusion

NutriMart Foods is poised to thrive in Nigeria’s booming foodstuff market with quality products, direct farmer sourcing, and a strategic location in Victoria Island. Our focus on affordability, sustainability, and digital engagement will drive growth and customer loyalty. Contact us at in**@************ds.ng or visit www.nutrimartfoods.ng (to be launched) to invest or partner in shaping Nigeria’s food supply future!