Businessman Oyeneyin Launches $1m Fund To Boost Food Industry

A seasoned investor and faith-driven entrepreneur, Kola Oyeneyin, has unveiled a $1 million fund to support food entrepreneurs and accelerate the growth of Nigeria’s food industry.

The announcement, made at the Nigeria Food Summit 2025 in Lagos, was a highlight of the event, aligning with the summit’s theme, “Making Nigeria a Global Food Destination.” As Nigeria’s largest gathering of chefs, food scientists, entrepreneurs, and industry stakeholders, the summit provided a platform for knowledge sharing, innovation, and investment in the country’s food ecosystem.

Oyeneyin, while giving his keynote speech, announced the launch of a dedicated $1 million fund to support food businesses and accelerate industry growth. According to him, “The success of any industry is deeply tied to access to capital. The Nigerian food industry is brimming with potential, but we risk stalling its growth without the right funding structures. This fund empowers food entrepreneurs to scale, innovate, and compete globally. Investing in food is not just about business; it’s about securing the future of our economy and ensuring food sustainability for generations to come.”

In his opening address, the summit convener, Gbolabo Adebakin (Chef Gibbs), emphasised the importance of Nigeria’s rich culinary heritage and the urgent need to position Nigerian cuisine on the global stage. He noted, “Nigeria’s culinary heritage is one of the richest in the world, yet it remains underrepresented globally. This summit is a call to action for food entrepreneurs, chefs, and policymakers to take ownership of our industry’s growth. We must innovate, collaborate, and harness the full potential of our local flavours and agricultural resources to make Nigeria a true food destination.”

The summit welcomed distinguished personalities and top chefs, including Anjola Awosika, Tolani Tayo-Osikoya (Diary of a Kitchen Lover), Hilda Baci, Ayo Bankole, and the Kitchen amuse, who shared invaluable insights on food business, sustainability, and cultural representation. The event featured four insightful panel sessions that tackled pressing industry issues. The session on “The Past, The Present, The Future of the Nigerian Food Industry” was moderated by Bukola Benson, with panellists Iquo Ukoh, Michael Williams, Paul Kavanagh, and Dr. Eric. Another critical discussion, “Launching, Sustaining, and Scaling a Food Business in Nigeria,” was led by Bukkie Akinmade and attended by Anjola Awosika, Eunice Adeyemi, Abiola Adelana, and Gbenga Sosan.

Technology’s role in food innovation took centre stage in the panel “A Fully Automated Food Industry: The Future is Tech,” moderated by Uzo Orimalade with industry experts Vera Ebhohon, Ted Oladele, Toheeb Bakare, Luther Lawoyin, Tanaz Bahnam, Chikodi Ukaiwe, and Aghuienoh Tarek. Beyond business strategy, the conversation shifted to the realities of entrepreneurship in “Running a Business in Nigeria: Beyond the Clout,” featuring Victory Jumbo, Hilda Baci, Modupe Emmanuel, Olapeju Umar, and Malaika, with moderation by Uju Ameshi. The final panel, “Chef’s Table,” featured the Vice President of APCN, Chef Nick, the President of CAPA, Chef Amaka, and Chef Ik a renowned Chef From Ghana.

In addition to panel discussions, masterclasses by Anjola Awosika, Chef Miyonsea, Chef Tucker, Chef TYB, Omoye Cooks and others provided deep dives into essential industry topics, covering the history of Nigerian food, plating and molecular gastronomy, food styling and content creation, canapé table spreads and photography, and Nigerian culinary arts with a farm-to-table approach. A special live podcast session of “One Bite at a Time,” hosted by Chef Vee and Chef Wu, added an engaging and interactive element to the summit.

A highlight of the summit was the Pitch-a-thon, where three food businesses pitched their innovative ideas in an elevation pitch contest that Elizabeth Toluwalope Akinwole from Tblizs Foods won. The competition, aimed at fostering food entrepreneurship, saw the winner win one million naira worth of business support from County Support Consulting, an all-expense-paid trip to a resort in Nigeria sponsored by Torrista, free branding services by Snappcode Productions, and business advisory support from Food Business Consultant.

The summit’s success was made possible through the generous support of esteemed partners, including Sterling Bank, Nestlé Pure Life, Glovo, Maggi, Isivini, Opay, AddMe, Power Oil, My Food Angels, OmniRetail, Reisty, FMN, Pasabahce, Mira, Woodscope, Pricepally, AO2Law, Happy Coffee, UAC, Awari, Lost in the City, Dinesurf, T.Kup, La Savannah, Josien. Additionally, food sponsors such as Eric Kayser, Celebrazioni, Loaves and Nuts, Home of Tasty Meals, Delinas, Nitascents Kitchen, Asher4920, Proveg, Chumpes Pot, Peppersoup Shop, and Happy Coffee provided attendees with a diverse and delightful culinary experience, showcasing the richness and variety of Nigeria’s food culture.

The Nigeria Food Summit 2025 achieved remarkable success, solidifying its role as a leading platform for driving innovation, collaboration, and policy direction in Nigeria’s food ecosystem. This year’s edition brought together key stakeholders, industry leaders, and food enthusiasts to explore sustainable solutions and opportunities within the sector.