The cream cracker produced by the Beloxxi Group has continued to gain traction among Nigerians of different age groups due to its low-fat, sugar and salt contents. The product is also receiving the plaudits of health experts as it contains Vitamin A, which is essential for good vision, healthy immune system and cell growth. The product also contains Vitamin E, which helps to support the brain, and cardiovascular and respiratory systems, according to health experts. At the moment, the factory’s plants have the capacity to produce 1.6 million tons of crackers each year.
Real Sector Watch has closely monitored the product and has found high consumption among health-conscious Nigerians, including some diabetic patients. Young people have also taken to the product due to its salty taste, believed to be good for the stomach.
“Our product is not only designed for local consumers, it is also designed for the international market,” says Obi Ezeude, president/CEO, Beloxxi Group.
The story of Beloxxi’s cream cracker cannot be told without reference to December 2003, when the United States of America Export and Import Bank (US EXIM) approved a $2.2 million loan facility to the company. By January 2007, the demand was becoming overwhelming, well beyond the company’s planned production capacity at its Ikeja office, prompting the setting up of a plant at Agbara.
“Here (in Agbara) we’ve been able to get two lines up and running and now have the third being prepared for set-up, with a fourth on its way,” says Ezeude, saying “as of today, we have a total valuation on the new factory of over N9 billion ($56.6m).”
Currently, over 80 percent of raw materials used in the production of the cream cracker are sourced locally. Real Sector Watch understands that the company is also thinking of exploring other markets.