Rite Foods balances economic growth with environmental sustainability – MD

Saleem Adegunwa, MD/CEO, Rite Foods limited

Saleem Adegunwa, MD/CEO, Rite Foods limited, said the fast-moving consumer goods (FMCG) company has been deliberate in balancing its economic growth with environmental sustainability, by adopting Nigeria’s energy transition strategy.

He made this disclosure on Friday during the Clean Energy Day 2026 stakeholders’ interactive session, where he made it clear that clean energy is the future of the industry and Nigeria’s ability to meet its net zero targets.

“At Rite Foods, this transition for us is not theoretical. Sustainability is deeply embedded into our approach strategy,” said Adegunwa, who was represented by Barong Asiodu, GM, corporate planning and strategy, at Rite Foods.

According to Adegunwa, the company has been deliberate in its investments and that the decisions have translated into improved competitiveness and sustained business growth. He disclosed that across its manufacturing operations, strong emphasis is on cleaner energy and more efficient operations.

Adegunwa added that Rite Foods’ solution ensures energy reliability and efficiency while reducing emissions and strengthening long-term cost leadership. “And in this regard, our hybrid energy solution prioritizes solar before any mix or energy combination.

“Today, our manufacturing facilities operate on 95 percent natural gas and solar energy with only 5 percent reliance on AGO,” he stated.

He also disclosed that the FMCG company will accelerate solar installations across its manufacturing facilities in line with its growth strategy, to embed more renewable energy into its operations.

“In the last five years, we have avoided an estimated 106,506 tons of CO2 equivalent emissions. When put in context, this is equivalent to planting approximately 3.2 billion trees in an alignment group of 10 years,” he stated.

He equally called for collaboration between business and government, innovators and policy makers and communities; saying progress requires collaboration. According to him, Nigeria’s energy landscape presents real challenges, especially around reliability and affordability.

Titilayo Oshodi, SA., to Lagos State governor on Climate Change and Circular Economy, in a keynote address titled, ‘’Nigeria’s Clean Energy Transition: Balancing Risks, Trade-offs, and Opportunity for Sustainable Growth’ said if Nigeria manages her risks and trade-offs wisely, clean energy will not slow growth, but rather redefine growth.

She disclosed that the state government through the ministry of energy is currently implementing a state-wide solar street lighting initiative targeting 48, 000 solar streetlights across Lagos. According to her, 22, 000 solar powered streetlights are currently operational across Lagos.

On the impact of transitioning to solar powered streetlights, Oshodi said that over 4, 000 MWh of clean energy is being generated in the state, averaging 2,760 metric tons of CO2 annually. According to her, the state has achieved solar electrification of 172 public schools, including over 50 boarding schools, and solarisation of public healthcare facilities and Lagos state TV stations.

Oshodi added that the opportunity lies in Nigeria’s ability to leverage clean cooking as a national climate and development lever. According to her, a balanced energy transition, designed to ‘close the loop’ from linear to circular systems, would require inclusive energy access, strong private sector participation, green jobs and innovation, data-driven, and coordinated policies.

Seyi John Salau is a BusinessDay Correspondent with interest in development journalism, which tells stories that connect the people, brands, and the government. SeyiJohn is also a media professional with BSc, Mass Communition (ACU); Masters of School Media (MSM, Ibadan) & MSc, Mass Communication (Caleb).

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