Rite Foods Limited has been recognised with two honours at the National Sustainability Achievement Awards 2026, earning national recognition for its commitment to sustainable manufacturing and clean energy.

The company received awards for Best Food Processing Carbonated Drink Formulation and Clean Energy Company of the Year 2026, following recommendations by the awards’ Technical Committee.

The recognition comes at a time when businesses across Nigeria are facing growing pressure to reduce carbon emissions, improve energy efficiency and adopt environmentally responsible production methods.

Why it matters

Manufacturing remains one of Nigeria’s largest contributors to economic growth but is also among the sectors facing increasing expectations to balance industrial expansion with environmental protection.

Awards recognising sustainable business practices are becoming more significant as investors, consumers and regulators pay closer attention to Environmental, Social and Governance (ESG) standards and the United Nations Sustainable Development Goals (SDGs).

Organisers of the National Sustainability Achievement Awards, ESG Impact Consulting Limited, said winners were selected based on measurable achievements in environmental stewardship, business impact and contributions towards sustainable development.

Company says sustainability drives every decision

Reacting to the recognition, the Managing Director of Rite Foods Limited, Seleem Adegunwa, said the awards reflect the company’s long-term commitment to responsible manufacturing.

“This recognition inspires us to continue raising the bar in responsible manufacturing, innovation, and sustainable business practices. At Rite Foods, sustainability is not simply an initiative, it is a guiding principle that shapes our operations, our investments, and our vision for the future.”

Adegunwa said the company would continue investing in cleaner technologies, efficient use of resources, operational excellence and community-focused initiatives designed to create long-term value.

According to the company, sustainability is integrated into every stage of its operations, from production processes and energy management to product innovation and stakeholder engagement.

Industry perspective

Environmental and sustainability analysts say Nigerian manufacturers that invest in energy-efficient technologies and responsible production methods are increasingly positioning themselves for long-term competitiveness.

They note that businesses embracing ESG principles often enjoy stronger investor confidence, improved operational efficiency and greater consumer trust, particularly as sustainability becomes more important in global supply chains.

What this means for consumers

For consumers, the recognition signals increased attention to safer production processes, efficient manufacturing and environmentally conscious business practices.

Industry observers also say continued investment in sustainable production could encourage innovation while helping reduce waste and improve resource management across Nigeria’s food and beverage sector.

Recognition adds to growing list of awards

The latest recognition adds to a series of recent honours received by Rite Foods.

The company was recently named Best Foods and Beverage Brand at the Global Brands Awards organised by the UK-based Global Brands Magazine.

Its Managing Director, Seleem Adegunwa, was also recognised as Industrialist of the Year 2025 by Vanguard Media Limited for his leadership and contributions to Nigeria’s fast-moving consumer goods (FMCG) industry.

What’s next?

With sustainability becoming a major benchmark for manufacturers worldwide, industry analysts expect more Nigerian companies to increase investments in renewable energy, cleaner production technologies and environmentally responsible operations.

For Rite Foods, the latest awards reinforce its ambition to remain a leading indigenous manufacturer while aligning business growth with environmental responsibility.

Expert View

A sustainability policy analyst says awards alone are not enough to measure environmental performance but can encourage companies to strengthen transparency, improve reporting standards and invest in cleaner production technologies.

The analyst adds that continued progress will depend on measurable reductions in emissions, efficient resource use and independent sustainability reporting.

Industry/Public Perspective

Manufacturers say recognitions that promote sustainability encourage healthy competition and could accelerate wider adoption of green technologies across Nigeria’s manufacturing sector, particularly as energy costs continue to rise.

Nigeria’s indigenous oil and gas contractors are set to benefit from improved access to financing after Fidelity Bank Plc joined a new $3 billion Contractor Finance Facility launched by Shell Nigeria Exploration and Production Company Limited (SNEPCo) alongside nine other commercial banks.

The financing programme, unveiled in Lagos, is expected to provide contractors executing projects for SNEPCo with access to credit in both naira and US dollars, helping them finance projects, improve delivery timelines and expand local participation in Nigeria’s energy industry.

Why it matters

Limited access to affordable financing has long been one of the biggest challenges facing indigenous oil and gas contractors in Nigeria.

Many local firms struggle to secure loans because of the size and risks associated with energy projects, often delaying contract execution and limiting local participation despite Nigeria’s local content policy.

Industry analysts say structured financing backed by existing contracts and guaranteed payment arrangements could encourage banks to lend more confidently while enabling contractors to compete for larger projects.

The initiative also supports the objectives of Nigeria’s local content policy by helping more Nigerian-owned companies participate in the country’s oil and gas value chain.

Fidelity Bank pledges continued support

Speaking during the Memorandum of Understanding signing ceremony, Managing Director and Chief Executive Officer of Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe, reaffirmed the bank’s commitment to financing Nigeria’s strategic energy sector.

“On behalf of the board and management of Fidelity Bank Plc, we want to thank Shell Nigeria Exploration and Production Company Limited for enrolling us for this contractor finance facility. At Fidelity Bank, we are committed to ensuring that we provide financing that is needed to help Nigeria maximise its oil and gas assets.

“As we all know, the oil and gas industry is a major contributor to the GDP of Nigeria and it is very critical that we have the financing required to get projects up and running.

“We have supported the oil industry significantly and we commit to continue to support contractors and the entire ecosystem.”

The bank said its participation aligns with its long-standing strategy of supporting key sectors of the Nigerian economy through structured financing.

According to Fidelity Bank, it has previously financed major energy infrastructure projects, supported indigenous companies operating in the liquefied petroleum gas (LPG) segment and backed several local content development initiatives.

SNEPCo explains how the facility works

SNEPCo Managing Director Ronald Adams said the financing arrangement was designed to strengthen implementation of the Nigerian Oil and Gas Industry Content Development Act.

According to him, the participating banks provide capital while SNEPCo contributes project contracts and payment domiciliation arrangements that reduce lending risks.

He added that contractors are expected to deliver quality project execution, creating a financing structure built on shared accountability between all parties.

Expert perspective

Energy finance experts say contractor financing remains one of the most important tools for increasing indigenous participation in Nigeria’s petroleum industry.

They note that reducing financing constraints could help local companies purchase equipment, mobilise personnel more quickly and execute projects without prolonged delays, ultimately improving productivity across the sector.

Economists also say stronger financing for indigenous firms could increase local value retention, create employment opportunities and stimulate investment across Nigeria’s broader economy.

Industry reaction

Stakeholders within Nigeria’s oil and gas industry have welcomed the initiative, describing it as a practical solution to one of the sector’s longstanding financing challenges.

They believe the combination of bank financing, secured contracts and payment guarantees could improve contractors’ access to working capital while strengthening confidence among financial institutions.

What it means for Nigeria

Nigeria continues to encourage greater local participation in its oil and gas industry through reforms aimed at increasing domestic ownership and capacity.

Industry observers say improved financing could accelerate project delivery, strengthen local content development and contribute to national energy security by enabling indigenous firms to execute more complex contracts.

What’s next?

Following the signing of the Memorandum of Understanding, eligible indigenous contractors executing projects for SNEPCo are expected to begin accessing financing under the facility.

Banks participating in the programme are expected to work with contractors to structure funding based on project requirements, contract values and repayment arrangements tied to project payments.

The Nigeria Customs Service (NCS) has been recognised as one of Nigeria’s top-performing government agencies in trade facilitation after receiving high marks in the 2025 Business Facilitation Act (BFA) Compliance Assessment conducted by the Presidential Enabling Business Environment Council (PEBEC).

The assessment, released on Friday, found that Customs met all required compliance standards and recorded significant improvements in the speed and efficiency of its trade-related services.

The recognition comes as Nigeria continues efforts to reduce bottlenecks at ports and border posts, improve the business environment and attract more local and foreign investment.

Why it matters

Efficient customs procedures play a critical role in international trade by reducing delays, lowering business costs and increasing government revenue.

For importers, exporters and manufacturers, faster cargo clearance can reduce storage costs, improve supply chains and make Nigerian businesses more competitive in regional and global markets.

According to PEBEC Director-General Zahrah Audu, the Nigeria Customs Service demonstrated strong compliance throughout the assessment.

“The Nigeria Customs Service stood out by meeting all the required standards while recording notable improvements in the timeliness and efficiency of its response to trade-related matters,” Audu said.

She added that the performance reflects a more transparent and business-friendly trading environment.

Audu also linked the achievement to Customs’ continued efforts to improve operational efficiency and customer experience, describing it as consistent with the Federal Government’s Ease of Doing Business agenda.

She disclosed that 98% of the 69 Ministries, Departments and Agencies (MDAs) assessed under the Business Facilitation Act now meet expected service delivery standards, suggesting that public sector reforms are beginning to produce measurable improvements across government institutions.

Reforms behind the recognition

The Customs Service has introduced several digital and administrative reforms in recent years to modernise border management.

Among them are the B’Odogwu Unified Customs Management System, the Authorised Economic Operator (AEO) Programme, and the Advance Ruling System.

The initiatives are designed to simplify import and export procedures, reduce cargo clearance delays and improve transparency in customs operations.

Trade experts have long argued that efficient customs systems are essential to reducing the cost of doing business and strengthening Nigeria’s position as a regional trade hub, particularly under the African Continental Free Trade Area (AfCFTA).

Businesses have also welcomed reforms that reduce paperwork and improve predictability, although many industry stakeholders say sustained implementation and continued digital upgrades will be key to maintaining progress.

Industry reactions

Economists say improvements in customs administration could boost investor confidence by making Nigeria’s ports more efficient and predictable.

Trade analysts also note that faster clearance processes can encourage exporters, reduce logistics costs and improve the country’s competitiveness in international markets.

What’s next?

The latest assessment places expectations on the Nigeria Customs Service to sustain its reforms while expanding digital solutions that make trade easier for businesses.

With more government agencies meeting Business Facilitation Act standards, attention is likely to shift towards maintaining compliance, improving accountability and ensuring reforms translate into tangible benefits for businesses and consumers.