Nigerian entrepreneurs, Omowunmi Owokoniran and Segun Michael Sosanya have explained how the economic policies of President Bola Tinubu inspired them to establish their now successful food exportation company, FoodsbyMomi.
According to the duo, President Tinubu’s economic policies aimed at shifting Nigeria from an import-dependent nation to an export-driven economy inspired them to begin exportation of Nigerian food to foreign countries which has now become a success.
As former importers of foreign goods, Segun and Wumi said they had first hand experience of the impact of the naira devaluation on Nigerian businesses which has led to rising cost of the dollar making it increasingly difficult for them to sustain their import-based business.
They said as the profitability of imported goods declined due to Nigeria’s weakened purchasing power, Segun and Omowunmi recognized an urgent need to pivot towards export.
“Instead of struggling to chase dollars, why don’t we focus on exporting and earning in dollars?” Omowunmi asked one day. That single question sparked immediate action,” said Segun,a New Product Planning and Development Expert and a Global Expansion & Market Strategy Specialist
With their new found business idea, the pair said Understanding the importance of compliance and industry best practices, they immediately engaged FIIRO consultants for specialized training while also working closely with NAFDAC officials to ensure full regulatory compliance.
With a vision to establish a state-of-the-art food processing facility, they invested in cutting-edge technology and adhered to the highest industry standards, ultimately securing international FDA approval. To guarantee the authenticity and quality of their products, they embarked on extensive farm-gate sourcing across Nigeria—directly procuring premium food commodities from regions known for their best-in-class produce.
Segun said their breakthrough moment came in 2024 when they made the strategic decision to participate in the Nelly NBC London Trade Fair. This pivotal move placed FoodsbyMomi on the global stage, driving demand for authentic Nigerian cuisine like never before.
“FoodsbyMomi quickly became the first Nigerian food brand to completely sell out at the event, proving that there was a massive demand for authentic Nigerian food in the diaspora. Today, FoodsbyMomi is the fastest-growing Nigerian food brand in the UK,”Segun said
On her part, Omowunmi Olabinjo, a seasoned cosmetologist and visionary
entrepreneur , recognized for her steadfastness and dedication to quality, said the company has been able to use technology in processing and preserving its food exports at impeccable quality that reflects global standards.
“FoodsbyMomi is an innovation driven company. It is one of the first Nigerian food companies to invest in state-of-the-art freeze-drying technology, a process that preserves food for years without preservatives. This revolutionary approach ensures that Nigerians abroad can enjoy fresh, homemade meals without worrying about spoilage,” said a trader of good standing.
Speaking on the impact of Nigerian food on the foreign market, the pair said The UK market has long been dominated by food brands with foods imported from other countries with products that merely mimic Nigerian cuisine. However, FoodsbyMomi’s unwavering commitment to authenticity has disrupted the industry—finally giving Nigerians in the diaspora access to genuine Nigerian flavors and aromas. The brand’s rise in the UK is a testament to its relentless pursuit of quality, tradition, and innovation.
Segun noted that FoodsbyMomi received wide acceptance at the NBC London Trade Fair 2024 was nothing short of phenomenal. He added that their products have also been the toast of Nigerians and other foreigners in the UK.
” Our stand became the go-to spot for food lovers, Nigerian expatriates, and global buyers seeking authentic Nigerian flavors and we sold out faster than we ever imagined! This overwhelming acceptance inspired us to scale up production and return with even larger quantities, ensuring that no one misses out on the FoodsbyMomi experience,” he said.
He added: From the moment our products hit the shelves, UK residents have been raving about the world-class packaging that instantly signals premium quality. Our sleek, airtight pouches and elegantly branded containers are designed to lock in freshness, maintaining the rich aroma, color, and texture of our products from Nigeria to your kitchen. Whether it’s our freeze-dried Ofada sauce that rehydrates into a perfectly balanced, restaurant-quality dish in minutes or our dehydrated vegetables that retain their natural vibrancy and nutrients, every bite is a “wow” moment.”
The acceptability of their products in the UK market have also served as encouragement for them to expand.
“Today, FoodsbyMomi is no longer just a brand, it’s a movement. The demand has skyrocketed, and supermarkets across the UK are now stocking our products because of the unparalleled customer demand. The diaspora has spoken: they want real Nigerian food, and they want FoodsbyMomi!.”
With the support of financial institutions in Nigeria, the duo expressed optimism of growing the company into a multi-billion dollar company in the future.
“Together with our partners and investors, this synergy has driven our rapid growth. We aim to scale FoodsbyMomi into a billion-dollar Nigerian food brand while contributing to Nigeria’s export diversification and foreign exchange earnings.
Our goal is to make Nigerian food a global powerhouse while ensuring that more dollars flow into the Nigerian economy rather than out of it,”they said.