The Federal Government has reiterated its commitment to fostering an enabling environment for private sector-led investments to drive economic growth, particularly in the agricultural sector.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, gave this assurance during a meeting with the Managing Director of Olam Agri, Mr. Anil Nair, in Abuja. Olam Agri is a subsidiary of the Saudi Agricultural and Livestock Investment Company (SALIC).
Edun acknowledged the government’s role in supporting broader development initiatives such as constructing rural farm roads and establishing strategic grain reserves. He praised Olam Agri’s contributions, emphasizing that such private sector investments align with President Bola Ahmed Tinubu’s economic diversification agenda.
“Private sector investments like those of Olam Agri are essential to achieving the government’s goals of economic diversification, increased agricultural productivity, and enhanced food security,” Edun said.
In his remarks, Mr. Nair outlined Olam Agri’s plans to capitalize on emerging opportunities in Nigeria’s agricultural sector. The company aims to expand investments in fertilizer production, provide increased irrigation support, and develop processing facilities to boost local value addition.
“These investments will enhance agricultural productivity, reduce food prices through improved supply chains, and stimulate the growth of Nigeria’s agribusiness sector,” Nair stated.
As a leading player in Nigeria’s agribusiness sector, Olam Agri is strengthening its collaboration with key stakeholders to unlock new growth opportunities. The company’s planned investments are expected to create jobs, improve the livelihoods of farmers, and contribute to Nigeria’s overall economic development.
