Ayoola Foods fetes, rewards distributors, doles out over N200m as incentives

Despite Nigeria’s gloomy economic outlook for businesses occasioned by increasing cost of production among others, Ayoola Foods has given out close to N300 million as incentives to its distributors for the year 2022. This was against the over N100m given out in the previous year.

Ayoola Foods are producers of Ayoola Poundo yam, potato, cassava, and other flours.

At the Ayoola Foods Customers Forum which was held at the Radisson Blu hotel in Lagos on Saturday, the firm’s distributors across the country were in attendance.

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The company’s Group Managing Director, Mr. Segun Olaye said the business environment for the year 2022 was very bad, stating that there are still uncertainties in the market as the cost of raw materials continues to skyrocket.

He however said the company increased the incentive on a carton of its products from N500 to N700 to encourage its distributors adding that the incentives were given based on sales.

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“We gave out as incentives to our distributors in 2022 a total of N289,470,800.00 as against N113,138,375.00 in 2021. This was quite necessary considering the economic situation in the country and to encourage them, ‘’ he told FTN at the ceremony.

Different categories of distributors got cash rewards.  Earlier in the year, the company ran a promo in which distributors also won tricycles and generators.

The overall distributor of the year, Deacon Paul Ossai, a former lecturer at the College of Agriculture, Edo State got a cash reward of over a million Naira.

Ossai, who expressed appreciation to Ayoola Foods, said the company has institutionalised a robust customer relationship.

“We derive joy in marketing the product, that is the essence of business.  The incentives are good, so we are putting in our best,’’ he said.

Ossai started selling the products with 10 cartons of Poundo yam but said Ayoola Foods products have become a household name.

While congratulating fellow distributors, he said the year 2022 was a tough year.  He lauded the company for making distributors happy on a constant basis in spite of the bad economy.

He urged his colleagues to continue to go out there to market the products.

There was also a mini drama where the actors went home with a N100,000 cash reward each. Similarly, the first set of people that arrived early for the ceremony got cash rewards.