BoI boss commends Olam’s investment in local rice rproduction

Rasheed Olaoluwa, MD BOI

Rasheed Olaoluwa, MD BOI

The Managing Director and Chief Executive Officer, Bank of Industry, Rasheed Olaoluwa has commended conglomerates such as Olam Nigeria to the development of the rice industry in Nigeria .

Speaking during the just-ended one-day Rice Fair in Kano at which he was the special guest, Olaoluwa also commended the organizers even as he observed that “the quality of the fair is remarkable, given that the local rice industry is yet at a developmental stage.

‘From what Olam Nigeria demonstrated at this fair, the level and quality of investment made by the company is an indicator that Nigeria can look to the future with optimism as far as the rice industry is concerned,’ he said.
Olam’s Mama’s Pride and Chef’s Choice brands dominated the fair.

Head Corporate and Government Relations, Olam Nigeria, Ade Adefeko expressed pleasure at the outcome of the fair saying: ‘We are so pleased that we are calling for more of such activities to help boost rice production, increase awareness and improve patronage of Nigerian brands.’

On the acceptance of his company’s locally produced rice brands, he said, “Generally, people love Mama’s Pride because of its packaging, grain length and brightness.”.

The organizers of the event were equally happy with the outcome particularly the active participation of local players like Olam Nigeria.

The primary organizer, represented by Team Leader, Growth and Employment in States Program, Tunde Oderinde, said “Olam Nigeria has reinforced its position as the biggest local player in rice in the country with an investment outlay in billions as it had the most coordinated and attractive stand at the trade fair. The outcome of the fair gives hope for local rice production and packaging because there is noticeable enthusiasm both from farmers, millers and consumers.”

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