…Says FG will support Olam to recoup its monumental loses due to floods
…As New Country Head, Ashish Pande says, Olam believes in Nigeria and is here to stay
BY MICHAEL EGIETHUA
Vice President Yemi Osinbajo, SAN, yesterday in Abuja unveiled Olam Agri’s Seed For The Future Foundation and Educational Trust Fund.
In his remarks before the unveiling of the Olam Agri Seed For The Future Foundation Educational Grant, Vice President, Professor Yemi Osinbanjo said, ”the board of Olam deserves our heartfelt commendation and gratitude for giving Nigeria several reasons to be hopeful and to celebrate.”
He said Olam’s “Seed For the Future Foundation/ Education Grant” program, has invested in two important types of seeds, first, the seeds Olam is planting by investing in the education of our young people through the education grant. Second, was the “very highly successful, award winning Wheat Seeds Trials Project which he was told achieved its first year milestone of producing 10 kilograms of free-multiplication Wheat seed varieties and was showcased at the United Nations General Assembly Climate Summit and nominated for an international grant.
The Vice President said it is the seeds that Olam plants by investing in the whole of our Agricultural Value Chain that has attracted even greater attention leading to the National Productivity Order of Merit Award which was presented to Olam by the President of the Federal Republic of Nigeria, President Muhammadu Buhari.
The Vice President said some of the very important things that we learn from the hard work Olam has put into Agriculture and Food Processing is that, this is really where the potentials, wealth of Nigeria lies and not just in the extractive industry but more in the agricultural value chain, manufactured and processed food. He said Nigeria has an advantage and Olam has shown that aside from Oil and Gas, Olam Agri comes second in exports out of Nigeria and that this was very commendable.
The Country Head, Olam Agri, Mr. Ashish Pande said Olam believes in Nigeria and that they are here to stay. He said the “initiative was the company’s way of deepening its impact in the education sector as it has done in the agricultural sector over the past years.”
Pande said that Olam Agri will continue to support the Federal Government’s aspiration of developing the agricultural sector by building the value chain to improve food exports as well as create more jobs for Nigerians.
The Olam Country Head thanked the Vice President, Professor Yemi Osinbajo for taking time off his busy schedule to grace the occasion, the Ambassador of Argentina to Nigeria, His Excellency, Alejandro Herrro and other distinguished guests for their presence.
On behalf of the entire Olam management he thanked all the guests and wished all a safe journey back.
Responding to journalists after the unveiling, Pande in reacting to the question about how he feels as regards the statement by the Vice President that the Federal Government will support Olam Agri to recoup what it lost to the devastating flooding, Ashish Pande said that, Olam Agri feels hopeful and also thankful that the federal government is going to support.
He said anywhere in the world where Climate Change has manifested, the floods are a problem in every part of the world. He said that is why companies with such investments look forward to support from governments. He noted that the government had always been supporting Olam and that he is confident that in the nearest future, they will get the right support from the government.
On the question of who qualifies to get the Education Grant from the Seed For the Future Foundation Educational Grant, Ashish emphasised that as he had said earlier, this is about students who want to go into Arts, Medicines, Agricultural Studies and that the grant is open for all students.
He said they will be working with banks, a selection process that will be able to deliver through due process and not because they know somebody and therefore, will favour such persons with the grant. He said the right set of people who are deserving of the grant will get it.
On how soon the initiative is expected to hit the ground running, Ashish said as we speak now, they were at the initial stages of working out the modality, the framework, coordinating with like-minded partners who he cannot name right now but that in the next one or two months we should see the program swing into actions.
Ashish said the entire financial budget for the first year is about Sixty Million Naira (60 Million) and that with this amount, we can expect about 50 students being beneficiaries of this grant in its first year of takeoff.
Also speaking to news men in Response to a question about what the “Seed for Future Foundation/Education Grant” is all about, Mr. Regi George, a Vice President in Charge of Farming Initiatives mostly associated with farmers and different programs for farmers in Nigeria, threw more light on what the program is all about. He said that, it is basically a program which was started last year and it is into research of getting new Climate Resilient Varieties especially for Wheat and it is happening in Northern Nigeria. He said it is about improved varieties and productivity for farmers per hectare, and a situation where we’ll get a reasonable volume of Wheat produced within Nigeria so that we are not entirely dependant on importation of our supplies in future.
On who will benefit from the program, Mr. George said it is basically the communities with whom Olam is associated in its various programs.
OLAM AGRI
Olam Agri, is a company with a long history and deep roots in Nigeria which spans over 3 decades. Its story began as a trading house buying commodities from farmers and exporting to Asia. Today, Olam is a leading player in the high-growth Nigerian Market with an ambitious purpose to transform food, feed and fiber through farming, processing, sourcing network and distribution operations.
Nigeria remains a strategic location for Olam Agri as it features prominently in the value chain. Through organic growth and acquisitions, Olam’s investment in Nigeria touches the entire Agri supply chain responding to the many challenges in meeting the needs of a fast-growing Nigeria population.
Its principal business activities in Nigeria include (a) SEASAME & COTTON; Sourcing and procurement, grading, processing and export of agricultural products such as sesame and cotton. (b) RICE MILLING; Local farming, importation, distribution and milling of rice. (c) WHEAT & ANUMAL FEED PROTEIN; Wheat Milling, animal feed and protein with Olam group company Crown Flour Mill.
Olam’s total investment in Nigeria, including working capital exceeds One Billion US Dollars ($1Billion) across its various businesses and has contributed to the agricultural development of Nigeria, for example through:
Enhancing domestic food security through the continued development of a 10, 000 – ha rice farm and fully integrated mill in Rukubi, Nasarawa State, supported by an out-grower program which will be scaled up from 4, 000 to approximately 20, 000 farmers. This supports the Government’s Agricultural Transformation Agenda through a high-quality product for the domestic market that can compete with imported rice whilst driving its prosperity. These and many more Olam is involved in Nigeria. Some of its popular rice brands include, Mama Pride, Mama Gold and Mama Africa.
