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Fed Govt promises support for private sector investments

The Federal Government has restated its commitment to promote an enabling environment for private sector-led investments to drive economic growth, particularly in the agricultural sector.

Mr. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, 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).

The Minister acknowledged that the Federal Government has greater 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.

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Mr. Nair in his remarks, outlined Olam Agri’s plans to capitalize on emerging opportunities in Nigeria’s agricultural sector.

According to him, 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.

 

 

 

 

 

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Owotoki Christiana Temitope

Owotoki Christiana Temitope is a graduate of Mass communication from Bingham University, has a professional Certificate on Human Resource management and a practicing journalist with high professionalism in reporting Human Angle events for over five years. She is also a practicing investigative journalist.

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