NIGERIA – Olam International Limited has hosted President Muhammadu Buhari of Nigeria to inaugurate its poultry feed mill and day-old-chick facilities in Kaduna Estate, Northern Nigeria
The integrated poultry and feed mill at Ilorin in Kwara State, worth US$150million, will enable the company to deepen its already strong influence in Nigeria’s food, agro and agro-processing sector.
Olam has estimated that as a result of its investment, poultry-meat consumption among Nigerians could increase up to 10-fold by 2040 and that its initiatives are to indirectly create 150,000 to 200,000 rural jobs for Nigerians.
The company also projects that the investment will enhance domestic poultry production by almost 8 billion eggs and 100 million kilogrammes of poultry meat, equivalent to 40 eggs and 500 grams of chicken per Nigerian per year.
On behalf of his Excellency President Federal Republic of Nigeria, Muhammadu Buhari GCFR, the Minister of Agriculture and Rural Development, Chief Audu Ogbeh, commented: “This development symbolises the national growth and stability of our nation. It will contribute to the reduction of crime and the rural agenda.
Olam is thoroughly Nigerian and since its incorporation here in 1989, it now operates across the length of the country. I would like to acknowledge their investments in the country.”
The Governor of Kaduna State and Chief Host, Mallam Nasir Ahmad El-Rufai, remarked: “Today we inaugurate the largest direct investment in Kaduna State in 10 years. When I first met with Olam representatives in 2015 I knew it was a meeting of minds.
The company made a commitment to invest further in Nigeria and the fact that we stand here today shows it is a reality. This facility will help us on the road to economic diversification and food security as well as producing thousands of direct and indirect jobs.
Olam’s investment will create an industrial agri-hub to incentivise our farmers to produce more by providing good products and support, quality control and access to domestic and global markets.”
The project will also contribute to the reduction in the foreign exchange currency spent on illegal low quality frozen imports, which Olam estimates at US$150million to US$200million per year.
Olam’s Managing Director and CEO for Grains, KC Suresh, commented: “We are proud to welcome His Excellency to our latest investment.
We have leveraged our deep knowledge of Nigeria – 27 years’ experience across exports, imports, manufacturing and farmer engagement – to identify the needs of Nigerian consumers. Our world-class facilities will provide high-quality, cost-effective products that will help farmers and rural Nigerians to prosper.
In the same way that Olam Grains has built a highly successful wheat milling footprint across Africa, we will be looking to scale our animal feed operations, both in and beyond Nigeria.”
September 12, 2017