By Yahaya Umar
Olam Agri, a subsidiary of Saudi Agricultural and Livestock Investment Company ,SALIC, and leading player in Nigeria’s agribusiness sector, is deepening its engagement with key stakeholders to explore strategic investments aimed at unlocking new growth opportunities.
In a recent meeting with the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, the Managing Director of Olam Agri, Mr Anil Nair, outlined the company’s plans to leverage emerging prospects in Nigeria’s evolving agricultural landscape.
The discussions focused primarily on business-aligned initiatives, including increased investment in fertilizer production, expanded irrigation support, and the development of processing facilities to boost local value addition.
According to Mr Nair, these investments are expected to enhance agricultural productivity, drive down food prices through improved supply chains, and stimulate agribusiness growth.
He acknowledged the government’s role in broader development initiatives such as the construction of rural farm roads and the establishment of strategic grain reserves.
On his part, Mr Edun reaffirmed the government’s commitment to creating a conducive environment for private sector-led investments.
He commended Olam Agri’s strategic contributions, noting that such private sector investments align with President Bola Tinubu’s broader economic diversification agenda.
In a related development, Nigeria is seeking to strengthen bilateral ties and explore economic opportunities with Belgium.
This is as Belgian Ambassador Pieter Leenknegt met with Mr Edun, at Finance HQ in Abuja over the course of the weekend.
The duo focused on enhancing economic cooperation, with particular emphasis on agriculture and food security.
Mr Edun highlighted Nigeria’s improving economic outlook, noting declining inflation, stabilizing prices, and increased savings in the federation account.
The Minister also reiterated President Bola Tinubu’s commitment to key macroeconomic reforms.
He acknowledged the initial impact on the cost of living crisis and assured that the measures to tackle these issues are already yielding positive results.
The Minister emphasized the government’s focus on supporting farmers through favorable policies to boost agricultural productivity.
Ambassador Leenknegt expressed Belgium’s interest in deepening economic relations, with both parties pledging continued collaboration for mutual benefit.
