By Princewill Ekwujuru

The Association of Fast Food and Confectioners of Nigeria, AFFCON, an umbrella body of Quick Service Restaurants, QSR in Nigeria, said it contributes an annual revenue of N200 billion into the growth of the economy.

AFFCON among other things said its members have also paid over N1billion to various tiers of government in taxes and levies.

The President of the body, Mrs. Bose Ayeni, disclosed this while addressing newsmen on the forthcoming inaugural National Conference of the association with theme: ‘The Role of Fast Food Business in the Global Economy,’ which is scheduled to hold in Lagos, by September 4, 2013.

Speaking on the role the fast food industry plays in Nigeria, Ayeni said that the industry employs over 500,000 workers at processing and retailing levels, in addition to paying over one billion naira to the various tiers of government in taxes and levies.

Stressing the prime position food occupies in human existence, Ayeni said: “Food is at the top of Maslow’s hierarchy of needs. That buttresses the primacy of food in human existence. Life is not sustainable without food. With AFFCON, food becomes an experience to anticipate, enjoy and cherish, presented always in a cosy and hygienic environment.”

Ayeni who said that the Nigerian fast food industry is a significant contributor to the Nigerian economy, with an estimated annual revenue of N200 billion, and pays over N1 billion to the various tiers of government in taxes and levies has a massive growth potential and is dominated by some 100 small-to medium –sized indigenous brands with over 800 outlets spread across have potential to become big given the right environment to thrive.

The president who among other things complained of the challenges bedeviling the industry, said top on the list is inadequate power supply, whilst pointing out that about 30 percent of the gross profit made by the fast food companies is used to service power supply.

She went further to say that next is the multiplicity of taxes and levies. “This is compounded by the overlapping functions of several regulatory agencies. These overlapping functions and a lack of coordination amongst such regulators lead to heavy financial burden on fast food companies. She however pleaded with government to ensure that the different regulators have distinct roles that do not overlap.

http://www.vanguardngr.com/2013/08/fast-food-contributes-n200bn-to-economy-annually-affcon/

I am coming soon to give mama kass, uac etc a run for their money

I'm not surprised since a lot of wives rarely cook these days, so the fast foods are booming. Everyday it's either Tastee fried chicken, Tantalizer, KFC or sweet sensation.

i know!

LOL!! Are all this mama put in this association??

Ok.





Can Somebody Tell me What the FG is Putting This Money.


No Insult pls Am jst asking.

Afam4eva: I'm not surprised since a lot of wives rarely cook these days, so the fast foods are booming. Everyday it's either Tastee fried chicken, Tantalizer, KFC or sweet sensation.

my friend shut up dia

mama put contributes more

Hmmmm...... Can we look at it from a health angle? Fast food is becoming part of urban dwellers.

PLEASe WHICH ONES ARE SLOW FOOD?

Just a measly 1 billion naira... Someone should be taxing this folks

ebamma 3: my friend shut up dia

Why?? Is Nairaland your father's property?? So why telling somebody to shut up?

Why not? When some pple are paying daily contribution to different fast food outlets...

They pay to state government mismanagement team..

8th to comment...Surely, I will still get there. Amen?

Iya Basira on Point!!!

AFFCON ko champions league ni. Endtime tinz

ebamma 3: my friend shut up dia

W ha T is even wrong with you guys? So because Afam is a Mod he shouldn't talk?

Hate kills faster than AIDS!

Am opening one soon.

Afam4eva: I'm not surprised since a lot of wives rarely cook these days, so the fast foods are booming. Everyday it's either Tastee fried chicken, Tantalizer, KFC or sweet sensation.

In today's fast-paced life and busy world, there is nothing better than getting a ready meal.
Fast food score more preferably over cooking meals considering the factors involved that hard-working and busy individuals(which a lot of women are these days ) cannot meet up with.

Sweet Sensation.

WHIZBRO: Just a measly 1 billion naira... Someone should be taxing this folks

...taxing them more for what?
The epileptic power supply that's a big strain on the business?

Hehe!!'AFFCON' ke-- na Nations cup.
Funny associations with funny Names.

Watin i no go see for nairaland , diz kind news de folo make FP , where is ASUU and fg ?

Fast food over a billion dollars?

They also contribute to the prevalent epidemic of girls walking around with pot-sized belly.
Kudos

very.hot.guy:
Fast food over a billion dollars?

yes, and in Ibadan we spend Pounds too

oddee

So what....In Ibadan alone...Amala joints and other buka join de generate more than 1 billion naira per day.....

me wnt chop mama put rice o

That's cool . . .

i am not very suprised. just like they'ld say; in times of recession 3 things w'ld sell: water, FOOD and sex...long story short, no matter the state of the nation's economy, man must get fed!

Their highest revenue is on [size=18pt]Feb. 14th [/size]

It's contributing 500bn health epidemic to the rich and middle class