Livestock Feeds Plc has been in operation since 1963. What would you say has sustained the company’s relevance for over six decades?
Our strong commitment to delivering customer satisfaction through quality innovation has helped us maintain our relevance as a business for over six decades. Our strategic investment in technology and operational upgrade, as well as our wide distribution network, have also been helpful. Most importantly, our greatest asset has been our people.
Looking back, what were some of the most defining moments in the company’s evolution, especially during its transition from Pfizer to Nigerian ownership?
Transitioning from Pfizer to a full Nigerian-owned business has helped to deepen the company’s roots in the Nigerian agribusiness landscape and domesticate its leadership while ensuring sustainable growth. We have had to transform our business models and upgrade our operations to meet current market needs.
How has the company managed to navigate economic cycles, market disruptions, and industry competition over the years?
Customer focus, which is at the top of our core values, has enabled us to adopt a flexible approach to innovation while adapting to the changing consumers’ tastes. Strategic cost management, innovation in feed technology, and a deep understanding of the local agricultural landscape have helped us remain competitive, even during tough economic cycles.
What were the key drivers behind the recent turnaround in financial performance, particularly the impressive revenue and profit growth recorded in 2024?
The turnaround experienced in our 2024 financial performance was driven by a combination of strategic cost management, improved operational efficiency, and a strong recovery in sales volumes, which helped to stabilise our margins and boost our revenue. We also optimised our production processes while leveraging our nationwide distribution network.
How does Livestock Feeds balance traditional feed manufacturing with the need for innovation and modern livestock nutrition solutions?
As a business, we balance our decades-long expertise in traditional feed production with a strong focus on innovation. We are committed to continuous operational upgrades and have deepened our research and development processes over the years.
In what ways has UAC’s majority ownership influenced the company’s strategy, operations, and market expansion?
Being part of the UAC Group has aided the business significantly by providing an enhanced corporate image, improved access to capital, and benefitting from shared services that have helped improve efficiency. These supports were instrumental in the company’s record-breaking financial performance in 2024. UAC’s influence has helped reposition Livestock Feeds as a more competitive and resilient player in Nigeria’s agribusiness sector.
Given the increasing focus on food security in Nigeria, what role does Livestock Feeds Plc play in supporting livestock farmers and the broader agricultural ecosystem?
At Livestock Feeds Plc, our commitment to the provision of quality, affordable, and accessible feeds for all classes of domesticated animals helps boost livestock productivity and strengthen the agricultural value chain. We therefore play a very important role in ensuring food security in Nigeria.
What investments has the company made in local sourcing, research, or farmer education to improve feed quality and accessibility?
Over the years, we have worked extensively with different farmers' groups across several agrarian communities in Nigeria, providing them with technical support and often serving as an off-taker for their produce.
Currently, over 95% of our raw materials are sourced locally – either directly or with input from local sources.
As one of the oldest agribusiness companies in Nigeria, how do you approach succession planning and institutional knowledge transfer?
As a public limited company, we are guided by the Nigerian Code of Corporate Governance 2018. We have in place a well-structured succession planning and knowledge continuity programme. We engage not only our staff but also the general public in training/workshops to ensure the preservation of institutional knowledge. Being a part of the UAC Group also allows us to benefit from group-wide leadership development programmes across different cadres of the organisation that prepare future leaders while maintaining operational stability.
What challenges do you foresee in the feed production industry, and how is Livestock Feeds preparing to address them?
Volatility in input costs and supply chain disruption, especially due to the infrastructural challenges across the country, are some of the major challenges likely to impact the feed industry. We continue to invest in facilities and infrastructure that help to optimise every aspect of our operations and supply chain to mitigate the challenge.
How is the company leveraging technology and data to enhance production efficiency and market reach?
Most parts of our operations are data-driven, and we are currently leveraging technology in our operations and financial processes. Our systems are automated and online in real time. This ensures process optimisation and efficiency. We are able to make projections on sales demands, track performance, and manage inventory more efficiently through the use of data analytics.
What legacy would you like Livestock Feeds Plc to leave for the next generation of agribusiness leaders in Nigeria?
We strive to leave a legacy of a sustainable and progressive business that delivers value to all our stakeholders and the country at large by consistently delivering on our promises of building a food system that is profitable, inclusive, and future-ready.
