November 29, 2017

Buhari administration, investors’ friendly—Olajiga

Buhari administration, investors’ friendly—Olajiga


The Chief Executive Officer of the largest locally owned cashew processing company in Nigeria, FoodPro Nigeria Limited, Mr. Ayo Olajiga, has described President Muhammadu Buhari’s administration as investors friendly.

Olajiga said this on Wednesday in Ilorin in an interview with newsmen.

Olajiga explained that the support he has received from the Bank of Industry (BOI), is huge hence the backing from the Federal Government for the institution (BOI) to function well.

He said the fact that the Vice President, Prof. Yemi Osinbajo, came to commission the extension of the factory recently was a testimony that this administration encourage the Private sector.

He said the company has contributed to the unemployment situation of the country with its employment of over 400 people.

“Through domestic processing of raw cashew nuts, we have created more than 400 direct jobs and several thousand indirect jobs for farmers, vendors, suppliers and artisans who form the heartbeat of FoodPro’s value chain.

“With 90% of FoodPro’s employees being women, we are humbled by the role we play in impacting communities and improving economic and social development conditions in our host community.” Olajiga said.

He explained that the company has been in operation since 2013 and recently ramped up its capacity from 1,000 to 5,000 tonnes of raw cashew nuts per annum making it the largest locally owned cashew processing company in Nigeria.

Olajiga added that FoodPro factory is the only factory certified by the African Cashew Alliance for Food Safety and Quality.

He said the company’s plans is double its operating capacity further to 10,000 tonnes, commence export of packaged and branded goods, including existing brands – Lion Cashew & Go Nutz as well as a range of additional products that are currently in the development phase.

Olajiga explained that most of the company’s outputs are exported to the United States of America (USA) with other retain brands across local store in the country.

He said the choice of Kwara State as where the factory was located was because of its strategic location to where the company source for its materials from, coupled with the state government’s friendly business policies.

He commended the Bank of Industry (BOI), for its support to the company and the Kwara State government.