FG Pledges Enabling Environment for Private Sector Investment
By Patience Ikpeme
The Federal Government has reiterated its dedication to fostering an environment conducive to private sector-led investments, a move aimed at accelerating economic growth across Nigeria.
This assurance was given by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, during a meeting held in his Abuja office with Mr. Anil Nair, the Managing Director of Olam Agri, a subsidiary of the Saudi Agricultural and Livestock Investment Company (SALIC).
During the meeting, Minister Edun emphasized the government’s commitment to supporting broader development initiatives, specifically referencing the construction of rural farm roads and the establishment of strategic grain reserves.
He acknowledged the crucial role of the private sector in driving economic progress, commending Olam Agri for its strategic contributions to the agricultural sector. The Minister highlighted that these private sector investments are in direct alignment with President Bola Ahmed Tinubu’s comprehensive economic diversification agenda.
“The government recognizes the importance of creating a stable and supportive environment for private sector investments to thrive. Our commitment extends to providing essential infrastructure and strategic reserves that complement the efforts of companies like Olam Agri,” Minister Edun stated. “We are particularly encouraged by Olam Agri’s initiatives, which resonate with our vision for a diversified and robust economy.”
Earlier, Mr. Anil Nair, Managing Director of Olam Agri, detailed the company’s plans to capitalize on the emerging opportunities within Nigeria’s dynamic agricultural landscape. He outlined a series of business-aligned initiatives designed to bolster the sector, including increased investment in fertilizer production, expanded irrigation support, and the development of advanced processing facilities aimed at enhancing local value addition.
“Our discussions with the Minister focused on strategic investments that will not only enhance agricultural productivity but also contribute to stabilizing food prices through improved supply chains,” Mr. Nair explained. “We are committed to driving agribusiness growth in Nigeria and believe that these initiatives will have a significant positive impact on the livelihoods of Nigerian farmers and consumers.”
The proposed investments by Olam Agri are expected to significantly boost agricultural output, leading to reduced food prices through more efficient supply chains, and ultimately stimulating substantial growth within the agribusiness sector. As a leading player in Nigeria’s agricultural sector, Olam Agri, a subsidiary of SALIC, is actively engaging with key stakeholders to explore and implement strategic investments aimed at unlocking new avenues for growth.
