In a bid to deepen its social, environment and economic development impact within the country, Olam Agri, one of the leading agribusinesses in food, feed and fibre in Nigeria has committed N6.5 billion to its various Corporate Responsibility and Sustainability (CR&S) initiatives.
The investment according to the company is a four-year development plan designed to drive socioeconomic growth within the communities where it operates. The commitment are part of the company’s Seeds for the Future (SFTF) programme, Olam Agri in Nigeria’s flagship sustainability effort designed to foster a brighter future for all.
The initiative focuses on five key areas: supporting farmers and farming communities, enhancing education and skill development for young people, economic empowerment of indigent women, promoting health and nutrition, and reducing carbon emissions across its operations.
The expanded investment commitment will support Olam Agri’s purpose for sustainable development across its business portfolio of rice, wheat milling and pasta, animal feed and protein, sesame, cotton and edible oils from 2024 through 2028.
In 2024 alone, the agribusiness plans to invest about $1.07 million into initiatives, which has already seen the presentation of education grants to 15 qualified students from the University of Lagos in January, awarding scholarships to 87 underprivileged students in Nasarawa State in June, manual harvesters for wheat farmers in Jigawa and empowering 118 agri-extension workers in Kwara State in July.
Significant provisions in the four-year plan also include smallholder farmer capacity building in rural communities to strengthen food security, rural road rehabilitation to reduce disruption of the value chain, distribution of harvesters to reduce post-harvest loss, participation in public-private partnerships in seed and product Research and Development (R&D), among others.
Speaking on the investment, Anil Nair, Managing Director of Olam Agri in Nigeria stated that, “As a business founded in Nigeria over 34 years ago, we are committed to investing in initiatives that positively transform lives and impact the livelihoods of our host communities while scaling food production in the country.”
“We are dedicated to turning our priorities into action by implementing key sustainability initiatives across our value chain to advance the current administration’s Renewed Hope Agenda. Our four-year implementation plan aims to make a real impact that benefits all.” He added.
