Olam Agri renews commitment to bolster Nigeria’s food security

Olam Agri, a prominent player in the agribusiness sector, has reiterated its unwavering commitment to fortify Nigeria’s food security initiatives during a crucial meeting with the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.

The gathering, held in Lagos, Nigeria on April 16, 2024, brought together key figures including Olam Agri’s Managing Director in Nigeria, Anil Nair, alongside notable government officials such as the Chairman of Federal Inland Revenue Service, Zacchaeus Adedeji, and the Accountant General of the Federation, Oluwatoyin Sakirat Madein, among others.

The discussions centered on leveraging Olam Agri’s expansive footprint across various agricultural value chains including rice, sesame, animal and fish feed, wheat milling, biscuits confectionery, and culinary product manufacturing to bolster the nation’s food security efforts.

Minister Edun underscored the government’s commitment to implementing reforms aimed at curbing inflation, particularly in the food sector, urging Olam Agri to harness its global expertise and resources to ensure wider access to quality food and nutrition for the population.

In response, Anil Nair, the Managing Director of Olam Agri in Nigeria, emphasised the company’s ongoing investments in enhancing productivity across multiple value chains. 

He highlighted Olam Agri’s involvement in out-grower programs, research & development initiatives, partnerships, and collaborations aimed at empowering smallholder farmers for the betterment of Nigeria’s agricultural landscape.

“Our commitment to driving food security is evidenced by the sprawling investments we keep making to raise productivity in the rice, animal feed and protein, wheat and flour milling, sesame, and edible oils value chains. 

“We consistently scale this investment as well, as we expand involvement in various out-grower programmes, research & development, partnerships, collaborations, and the integration of smallholder farmers into various empowerment initiatives for the betterment of Nigeria.”

“We do realise that deepening partnership and collaboration with other stakeholders in the economy is crucial to maintaining and sustaining the government’s food security agenda,” said Nair.

Nair reiterated Olam Agri’s alignment with the government’s fiscal reforms, stressing the importance of an enabling policy framework and regulatory environment to facilitate the development of the agricultural value chain.

Olam Agri, a subsidiary of Olam Group, boasts a robust global origination footprint and processing capabilities, with a focus on grains & oilseeds, integrated feed & protein, rice, edible oils, specialty grains & seeds, among others. 

With a volume trade of 38.3 million MT in 2022, Olam Agri remains at the forefront of global food and agri-trade flows.

As the company continues to drive sustainable transformation in food, feed, and fibre sectors, it remains dedicated to creating value for customers and fostering the prosperity of farming communities, while actively contributing to Nigeria’s journey towards achieving food security.