We have invested $1bn in Nigeria’s agric. sector – Olam

A major brand in Nigeria’s food sector, Olam Nigeria Limited, said it has invested about $1 billion to boost productivity in the nation’s agricultural sector.

The company’s Vice President, Reji George, who disclosed this in Abuja, said the investment was made over the last 26 years of the firm’s operation in Nigeria.

According to him, the goal of the company in Nigeria is to ensure food security, attainment of self-sufficiency in food production and facilitation of the nation’s quest to become a rice-exporting nation.

He said Olam has inaugurated a 36,000-tonne-per-annum multi-million dollar integrated rice mill in Nasarawa state and a rice farm which will become the largest rice farm in Africa.

“The 3,000 hectares of land under cultivation on the 6,000-hectare paddy farm where the rice mill is located, is being increased to 10,000 hectares and will become the largest rice farm in Africa. The mill has given direct employment to 1,000 people from the surrounding communities. The total investment in the integrated farm, the mill and other facilities amounts to $111 million,” George said.

While speaking on post-harvest losses, he said rice mills and domestic markets have been provided for rice farmers. He noted that the firm expended $120 million on poultry and animal feed mills in Kaduna and Ilorin in 2017.

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