According to Vice President Yemi Osinbajo, the agricultural value chain rather than the extractive industry is where Nigeria finds its wealth.
This opinion was expressed by Osinbajo on Friday in Abuja during the inauguration of the Olam Agri initiative Seeds for Future Foundation and Education Grant.
Leading agricultural company Olam Agri concentrates on fast-growing consumer markets.
The vice president claimed that Olam has made investments in two significant seed kinds through the seeds of the future program.
“First, the seeds you are planting by investing in the education of our young people through the education grant initiative for undergraduates.
“The second of course, is the very successful award-winning wheat seeds trial project which I am told achieved its first peer milestone of producing 10 kilograms of pre-multiplication wheat seeds varieties and was showcased by the UN General Assembly at the climate summit and nominated for an international grant.
“But I think it is seeds that you plant by investing in our agricultural value-chain—from research to people especially disadvantaged women–that has attracted even greater attention leading to the National Productivity Order of Merit Award which was presented to Olam by President Muhammadu Buhari.
“The planting of these seeds shows your firm belief in our country and its innovative and how it is that the story of our country will ultimately yield fruits of prosperity, peace and decent livelihood for all.’’
He claimed that it was obvious that Nigeria’s soil was particularly productive given that Olam began in Nigeria a few years ago and has now expanded to 60 various countries.
It implied, according to Osinbajo, that the seeds that were sown in Nigeria were extremely productive.
“I do not think that there is any other business that demonstrates the importance of faith, patience, resilience and hope as agriculture does.
“Planting seeds, tending them until they create food, wealth and sound health for all.
“So, it is an absolute pleasure to see how these important attributes now form the values for the Seeds for the Future Foundation.
“And the Seeds for the Future Foundation espouses the same values through its various interventions; very well done indeed.’’
Osinbajo praised Olam Agri for the effort and dedication it had made in agriculture and food processing, particularly in Nigeria.
He highlighted a number of industries the company excelled in, including wheat milling, rice farming and milling, tomato farming, hatcheries, soy bean processing, and agricultural exports of cacao, beans, cashew nuts, and sesame seeds.
“I think that one of the very important things that we learn from the hard work that you put into agriculture and food processing is that this is really where the potential of our country lies.
“This is really where the wealth of our country lies, not just in the extractive industry but more in agricultural value chain especially export of manufactured and processed goods.
“I think that here, we have a very strong advantage and I am told that aside oil and gas, Olam comes close second in terms of exports and I think this is very commendable indeed,’’ he said.
The Olam Rice Farm in Nasarawa State was flooded, causing a catastrophic loss that the vice president expressed sympathy for with Olam Agri.
Ashish Pande, Senior Vice President and Country Head, Olam Agri, stated earlier in his welcoming speech that the company was founded in Nigeria and was keen to produce the greatest seeds for the subtropical country.
He claims that Olam Agri is shifting its focus from seed development to human development, which is why the Seeds for Future Foundation was created.
“The foundation works on four different levers; it talks about working on farmers and farmers associations, it talks about education and sports development.
“It talks about women empowerment and finally, being a food company, it talks about promoting health and nutrition for the population,’’ he said.
Officials from Olam Agri previously took Osinbajo on a tour of an exhibition.
The presentation of the Memorabilia from Seeds for the Future was the event’s high point.
