Olam Agri has transformed its operations from two manufacturing plants to nine facilities nationwide, producing flour, semolina, and pasta.
The initiative marks a strategic pivot toward modernising the sector and reclaiming Nigeria’s status as a global palm oil powerhouse.
The US$1.2 billion investment will fund a 5,000-hectare seed farm and expand cultivation to 500,000 hectares.
FMN reiterated its strategic focus on cassava industrialisation as a pathway to agricultural transformation, sustainable jobs, and increased export revenues
The report projects a 38.8% year-on-year growth in profit before tax (PBT) from ₦166.8 billion (US$108.6M) in 2024 to ₦231.5 billion (US$150.7M) in 2025.