Sessions

Packaging Masterclass - Certificate course on packaging materials & food packaging technology
Organised by institute of packaging professional, nigeria, packaging academy & African Packaging Organisation (APO)
in collaboration with World Packaging Organisation (WPO)
For more information please visit https://www.linkedin.com/events/executivemastercertificateinpac6854936366044729344/
 

Lending from commercial banks to the agri-food sector is broadly categorized as risky for several reasons. Some of these concerns include but are not limited to high transaction costs, lack of transparency / limited sector know-how on the part of the lender, and excessive exposure to climate, socio-economic and political factors among others.

Notwithstanding, transforming food system towards sustainability to ensure food security, create jobs and remain competitive in the global market will require innovative, inclusive and ambitious financing (equity and debt financing) from private capital, PPPs and development funds. This is not only crucial for established large corporates but also for SMEs who are considered as the engine room of any thriving economies.

Existing financial instruments and their stringent collateral requirements should be revisited especially given the fast-pace and changing nature of the agri-food and global supply chain industries. In today’s manufacturing landscape, trade/working capital and asset financing from down- to upstream segments of the production and export ecosystems have never been important. There is an urgent need for creative and customized financing solutions for improved access to finance and for mobilising private capital to scale-up. Undoubtedly, such solutions will increase productivity and promote more sustainable food production systems.

Furthermore, export financing for stakeholders across the value chain will create possibilities to procure modern processing and distribution technologies, hedge currency risks and increase the capacities of smallholders and SMEs to leverage economies of scale and operate profitably. This panel will explore innovative funding opportunities and measures to mitigate associated hurdles to accessing finance for actors across segments of the food processing value chain.

Packaging Masterclass - Certificate course on packaging materials & food packaging technology
Organised by institute of packaging professional, nigeria, packaging academy & African Packaging Organisation (APO)
in collaboration with World Packaging Organisation (WPO)
For more information please visit https://www.linkedin.com/events/executivemastercertificateinpac6854936366044729344/

Conversations about packaging sustainability have in recent times favoured reducing and reusing against recycling. And generally, there are growing concerns about plastics and single-use packaging products for regulators, businesses, consumers and the environment at large. Given these stark realities, no doubt, sustainability is the future of food packaging.

Circularity and sustainability have become unavoidable themes for food processing brands globally, especially with regards to their sustainability targets/goals and how they achieve them. With stricter regulatory policies and global alliances against plastic pollution beaming a search light on industry activities, it is safe to say that there is no escaping this massive shift. The challenge however is that while innovation in new packaging designs can be promising, this ultimately does not come cheap – especially as it relates to impact on balance sheets. Today, businesses need even more persuasive and compelling arguments to make the switch.

What is the status of food packaging in Nigeria? Are there significant growth drivers for sustainable packaging in the market? What business opportunities does sustainable packaging offer both suppliers and processors in what has been described as a “sachet economy”? Considering current and medium-term economic outlook, is the Nigerian food packaging industry ripe for new packaging tech and innovation?

According to Breaking the Plastic Wave report by Ellen MacArthur Foundation (2020), circular economy could generate USD 200 billion saving annually, cut GHG emissions by 25%, and create 700,000 jobs by 2040. The question is how can industry, government and other key actors in Nigeria translate this potential to tangible results as we race towards achieving sustainability targets?

While the production of virgin plastic is projected to double by 2040, only about 14% - 18% of plastics (mainly PET and HDPE) is recycled globally today. In addition, COVID-19 pandemic continues to disrupt the waste value chain with significant volume of medical and plastic waste, notwithstanding the steady rise in global population and plastic pollution across industries. Legislations to tackle plastic pollution such as bans, and plastic reduction have largely focused mostly on improving waste management. Though these measures are commendable, in isolation they are unable to address the menace that these valuable materials pose for the environment after their shelf-life.

Given these stark realities, it is apparent that plastic end-of-life challenge need more than just technology, conventional methods of waste collection and mechanical recycling. In fact, to accelerate the move to a circular economy for plastic, the need to shift mindsets from the “dispose-collect-recycle” viewpoint and amplify efforts through coordinated and ambitious approach from all key actors in the value chain is crucial.

Circular economy approach to plastic will drive systems change that prioritizes leveraging substitute (where possible), spur innovation and business models that eliminate waste and enhance resource efficiency thus ensuring that plastic doesn’t end up as waste on landfill, incinerator, or in the environment. This could also potentially improve recycling by complementing existing mechanical processes and infrastructure for positive social, economic and environmental impacts. That said, promoting reuse, creating a market for recycled materials, redesigning products with end of life in mind will be essential for circular economy, the environment and the economy at large.

This session seeks to explore circular solutions and new applications pushing recovery of plastic waste by indigenous and multinational companies in Nigeria and the likelihood to scale them for the Nigerian market.

Keynote Presentation by Central Bank of Nigeria (CBN)  and Nigeria Export Promotion Council (NEPC)