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Federal Govt Lauds Olam Agri Strong Investment In Rice Value Chain | Citize NewsNG

ByCitizen NewsNG

Mar 31, 2024

 

The Federal Government has praised Olam Agri in Nigeria for its significant investment in boosting agricultural output and growth in the country. Sen. Abubakar Kyari, CON, the Minister of Agriculture and Food Security, commended the company during his inspection of their integrated Rice Farm and mill in Nasarawa state on March 28, 2024. This visit followed a recent courtesy call on the Minister and the Vice President by Olam Agri’s top management, where the company expressed interest in expanding its partnership with the Federal Government to enhance agricultural productivity further.The Honourable Minister, who visited the Olam Agri Rice Farm in the company of Nasarawa State Deputy Governor Dr Emmanuel Akabe and a team of technical experts, used the occasion to flag off Olam Agri’s dry season rice harvest.

He commented on his satisfaction with the business’ innovative approach to raising agricultural productivity, “I was particularly impressed by Olam’s commitment to leveraging mechanisation and technology-driven farming methods across their 13,500-hectare fully integrated rice farming operations. With a paddy milling capacity of 210,000 metric tons, they have demonstrated significant strides in agricultural productivity.

Over 4,000 hectares have been cultivated, yielding an impressive 4.3 tonnes of rice per hectare.” Additionally, the Minister commended Olam Agri’s commitment to corporate social responsibility, citing their engagement with over 35,000 out-growers, investment in scholarships for youths, provision of learning infrastructure, hiring of qualified teachers to deliver academic excellence across the communities and their paid flood response and support for at least 3,523 residents from 10 different communities. As part of its impressive social investment, the business also provided solar lights for six host communities – Rukubi, Achepe, Obendo, Olegokpa, Ijiwo, and Ondori.

It constructed and rehabilitated access roads to the villages. One of the roads constructed and rehabilitated by the business is the 9 km Olegokpa – Achepe – Obendo Road. Speaking about the facility tour, Anil Nair, Country Head & Managing Director of Olam Agri in Nigeria, thanked the Honourable Minister and his team of experts. He said, “We are thrilled by the Honourable Minister’s visit to our Rice Farm and mill. This visit has reinforced our support for the Nigerian government’s renewed hope agenda and our readiness to engage with critical agricultural stakeholders to keep driving productivity and sustainable growth.” “As a business, we prioritise captive supply through large-scale farming practices. In the rice value chain, for instance, we continue to invest in R&D to scale the introduction of germplasm as part of a breeding program targeted at improving the yield potential of the current seed varieties while developing new varieties which adapted well to local soil and weather conditions and can withstand major environmental threats. We maintain stringent quality control while fostering an out-growers model that provides preferential access to seeds, training, and rates for many farmers while benefiting households, communities, cooperatives, and women. This visit will further deepen our partnership with the federal government and impact the investment landscape,” he added.ENDAbout Olam AgriOlam Agri is a market leading, differentiated food, feed and fibre agri-business with a global origination footprint, processing capabilities and deep understanding of market needs built over 33 years.

With a strong presence in high-growth emerging markets and products across grains & oilseeds, integrated feed & protein, rice, edible oils, specialty grains & seeds, cotton, wood products, rubber and commodity financial services, Olam Agri is at the heart of global food and agri-trade flows with 38.3 million MT in volume traded in 2022.

Focused on transforming food, feed, and fibre for a more sustainable future, it aims at creating value for customers, enable farming communities to prosper sustainably and strive for a food-secure future. Olam Agri is a fully owned subsidiary of Olam Group. For more information and to subscribe to our news alerts, please visit https://www.olamagri.com/.About Olam GroupOlam Group is a leading food and agri-business supplying food, ingredients, feed, and fibre to 20,200 customers worldwide. Our value chain spans over 60 countries and includes farming, processing, and distribution operations, as well as a global network of farmers. Through our purpose to ‘Re-imagine Global Agriculture and Food Systems’, Olam Group aims to address the many challenges involved in meeting the needs of a growing global population, while achieving positive impact for farming communities, our planet and all our stakeholders.

Headquartered and listed in Singapore, Olam Group currently ranks among the top 30 largest primary listed companies in terms of market capitalization on SGX-ST. Since June 2020, Olam Group has been included in the FTSE4Good Index Series, a global sustainable investment index series developed by FTSE Russell, following a rigorous assessment of Olam’s supply chain activities, impact on the environment and governance transparency. The FTSE4Good Index Series identifies companies that demonstrate strong Environmental, Social and Governance (ESG) practices and is used by a variety of market participants to create and assess responsible investment funds. More information on Olam can be found at www.olamgroup.com.Media contactName: Elizabeth NnokoT: +234 905 385 5936E: elizabeth.nnoko@olamagri.com

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