High Cost, Major Reason For Poor Protein Consumption in Nigeria – Report

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High cost has been identified as a major disincentive for the consumption of most protein food sources in Nigeria. This was revealed in a national survey report, the Nigeria Protein Deficiency Report, unveiled at the recent launch of the Nigeria Protein Awareness Campaign. The campaign is tagged ‘Protein Challenge Nigeria’.
The survey, which was designed to empirically determine the current status and dimensions of protein deficiency in Nigeria, sheds light on food consumption patterns among Nigerians.
According to the report, “51 per cent of respondents do not have adequate protein-rich foods due largely to high cost.” The report also showed that the fundamental factors determining the necessity of meal items consumed across the country are availability (79%) and affordability (68%).
Highlights of the report indicate:
  • As most Nigerians would probably expect, that carbohydrates are the most consumed food amongst Nigerians.
  • Rice topped the list with 91%, closely followed by ‘swallows’ (such as eba, amala, fufu, pounded yam,etc.) as 83%.
  • 58% of sampled institutional providers (dieticians and nutritionists) insisted that the protein intake of Nigerians is generally quite insufficient.
According to Dr Omadeli Boyo, a medical doctor and public health expert: The report lends credence to many of the long-held perceptions about food consumption in Nigeria. It is detailed, yet concise, clear and places in context food consumption patterns across the country.”
He noted that it is no surprise that, with carbohydrates as the most commonly consumed foods, incidence of malnutrition is today a prevalent public health concern.
Shedding more light on the protein deficiency campaign, Dr.Boyo explained that an important thing about the proposed campaign is that it aligns with the Sustainable Development Goals (SDG) 2, which seeks to‘end hunger, achieve food security and improved nutrition and promote sustainable agriculture’
Also commenting on the report, Ebenezer Amuwaolu Oluloto, a nutrition expert, said: “Excellent job, I skimmed through the slide deck, it looks good, insightful and informative.” He noted that it is interesting to see up to 65% consuming animal source foods like meat. He posited that however those vegetables, at 53%, ought to be close to rice, ‘swallow’ and beans, because they usually go together, along with the stew.
Another Nutritionist, Judith Igwe, said: “The report highlights the dimensions of protein deficiency in Nigeria. It also establishes that availability, affordability, taste, nutritional value and preference are factors that drive the choice of protein consumption among the target audience.”
The survey was commissioned as a part of Protein Challenge, a protein-pull media campaign supported by the United States Soybean Export Council (USSEC) and other partners, seeks to create awareness about the prevalence, status and impact of protein deficiency in Nigeria.
The campaign website www.proteinchallengeng.com is set up as a knowledge platform to promote protein in general and soybeans in particular. The website is the ‘go-to’ place for everyone interested in understanding the importance of protein to health and wellbeing.
The Nigeria Protein Deficiency Report can be downloaded free from the website.
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High Cost, Major Reason For Poor Protein Consumption in Nigeria – Report - Brand SpurHigh Cost, Major Reason For Poor Protein Consumption in Nigeria – Report - Brand Spur

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High Cost, Major Reason For Poor Protein Consumption in Nigeria – Report - Brand SpurHigh Cost, Major Reason For Poor Protein Consumption in Nigeria – Report - Brand Spur

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Singapore Employees Lack Retirement Support From Companies While Financial Wellbeing Becomes a Top Priority: Aon Survey

SINGAPORE - Media OutReach - 14 April 2021 - Aon plc (NYSE: AON), a leading global professional services firm providing a broad range of risk, retirement and health solutions, has released the findings of the 2021 Trends in Retirement & Financial Wellbeing survey for Singapore.


Working adults in Singapore ranked retirement planning as their top priority but an alarming 80% underestimate how much they really need to retire. While retirement support from employers is also lacking, further challenges remain around transparency in group retirement plans' investment offerings and employees foregoing long-term perspectives to seek short-term gains.


Ashley Palmer, Regional Managing Partner, Retirement & Investments, Asia for Aon, said, ""Employers can have a significant impact on how much their employees save by instilling smart habits and healthy money behaviours. The right long-term savings vehicles, effective communications and financial tools will help Singapore's workforce be more financially resilient in the wake of the COVID-19 pandemic."


The survey identifies three main themes in financial wellbeing and retirement support for Singapore employees.


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Promisingly, a third of organisations in Singapore are prioritising a thorough review of their supplementary retirement arrangements in 2021.


Alicia Brittain, Senior Consultant & Actuary, Retirement & Investments, Singapore for Aon, said, "Forward-looking companies first need to understand the financial worries of their employees and identify the gaps in their benefits offering. The most effective approaches are aimed at changing individual behaviours towards money and savings and providing accessible programmes and vehicles to deliver sustainable change. For example, when organisations provide retirement benefits as cash-in-lieu, it is most likely immediately spent and so does not form part of an emergency fund or long-term savings for the employees' retirement years. Supplementary retirement plans solve this issue and are more flexible and cost effective - and can also offer contributions above the monthly CPF wage cap to increase employee savings."


Employees in Singapore lack a well-defined default investment strategy. Less than 30% of the surveyed companies in Singapore currently offer their employees an investment choice in their retirement plans, and only 15% of retirement plans have a default investment fund. This leads to employees selecting their own optimal investment funds. They may lack experience in understanding investments, which can lead to misallocating their money and result in inadequate retirement savings or excessive risk taking.


Brittain added, "The key to protecting employees and adding value to savings in any defined contribution retirement plan is a well-defined default investment strategy. This includes frequent performance monitoring, actively managing investment risks and dynamically reducing investment risk as employees move towards retirement."


Notes to Editors

The Aon 2021 Trends in Retirement & Financial Wellbeing for Singapore survey was designed to help organisations understand the unique retirement and financial needs of their Singapore workforce. This tri-annual survey was completed by organisations with employee populations ranging from five to over 4,000 and are based in Singapore. Responding Rewards and Benefits Leaders, HR and Finance Professionals provided feedback and insight on their organisations' financial wellbeing and retirement programmes, interests and concerns. Click here for the full report.

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High Cost, Major Reason For Poor Protein Consumption in Nigeria – Report - Brand Spur
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