Before the oil boom, Agriculture was one of the sectors in the economy of Nigeria that contributed largely to the Gross Domestic Product (GDP) of the country. This article will discuss the top Agribusiness companies in Nigeria and the list of top agribusiness in Nigeria.
The oil boom constituted the neglect of the agricultural sector and all were focused on the oil sector. Agriculture remains the bedrock of the Nigerian economy’s GDP regardless of the emergence of oil in the country. Agriculture is one of the quickest and best ways to economic development in the country and also gives Nigeria a comparative advantage over others.
Recently, The agriculture sector that was abandoned due to the oil boom has started booming again due to the increase in awareness of the need for sustainable food production and food security in Nigeria. Many Agribusiness companies have risen and brought innovations and new technologies that will solve the problems of agriculture in Nigeria.
There have been initiatives in place by the government toward developing the agricultural sector. Providing access to lands, loans, and other incentives should be improved to encourage more people to invest in the Agricultural sector.
It is always difficult to start up an Agribusiness because it requires huge capital. But if farmers can have access to start-up capital from banks with low rates, it will help to increase their interest in the Agriculture sector and profitability.
One of the main reasons that have made the youths develop a nonchalant attitude towards agriculture is the tedious nature. If it is mechanized as some Agribusiness companies are presently doing, the youth will develop interest and want to venture into Agri based businesses.
List Of Top Agribusiness Companies In Nigeria
The following are the lists of top agribusiness companies in Nigeria in no particular order.
OLAM Nigeria
OLAM Nigeria is one of the top agribusiness companies in Nigeria that was established in 1989. It has grown to the extent that it has operational offices across all the geopolitical zones of the country with its world headquarters in Singapore.
OLAM Nigeria has a large growing network of farmers, suppliers, wholesalers, local buying agents (LBAs), customers and other service providers. Presently, the network is over 500,000 farmers which have created job opportunity for lots of people unemployed.
The farm supports the out-grower program and offers fertilizers, pr-finance, and high breed seeds and training to the rice growing framers
in the nearby communities. About 7,000 farmers are benefitting from this program and are given high-breed seeds to improve their paddy yields and in turn produce rice for domestic use and to build food sufficiency.
OLAM is one of the companies in agribusiness that supplies fibre, feed, and food ingredients to many customers globally inclusive of some multinational organisations. It is one of the biggest suppliers of beans, coffee, cocoa, rice, and cotton in the world.
Flour Mill Of Nigeria
The flour mill of Nigeria is among the top agribusiness in Nigeria. It was incorporated in September 1960 as a limited liability company. Flour Mill was a pioneer wheat miller in Nigeria but has now grown to become one of the biggest brands in the food and agro-allied industry in Nigeria and Africa at large. The company has been in existence for over 5o years and has made impacts in the Nigerian Agri space.
It has an interest in all the agricultural sectors and works with farmers across the value chains. The operation of Flour Mills of Nigeria is divided into four major sectors: Sugar, Food, Agro-allied and support services. The company has a passion to feed the nation by producing a wholesome portfolio of food options, thereby increasing the quality of living for Nigerians. Golden Penny is one of FMN’s leading food brands that has become a household name.
Stallion Group
Stallion group is one of the top agribusiness companies in Nigeria. It is a diversified company with one of its arms in the agricultural sector. The company is well known for rice production through the establishment of world-class rice mills in strategic locations in the country to promote local production of rice,
It collaborates with the rice farmers in their host communities. They encourage them to use modern and recent technologies, give the high yield seed to improve and increase their production of paddy and other agro-based products to increase food sufficiency.
Dangote Group
Dangote group is among the top agribusiness companies in Nigeria that are known for quality. It is owned by Aliko Dangote who is one of the richest men in Nigeria today. It has a sector that engages in agricultural activities which includes sugar refining, sugar milling, fertilizer production, salt refining, rice farming, sugar cane farming, and production of agro sacks.
In 2019, it launched its fertilizer business. It also partners with out-growers to help cultivate and grow rice paddy which the company will in turn buyback. The company also has a pasta section which helps in feeding millions of families in Nigeria daily.
BUA Group
BUA is among the top agribusiness companies in Nigeria owned by Abdulsamad Rabiu who is also one of the richest men in Nigeria. BUA is also diversified in operations just like Flour Mill, Stallion Gropu and Dangote Groups. It is into Fertilizer production, sugar processing, rice processing, production of flour and flour products, and production of cooking oil. They are also involved in the distribution of agricultural and industrial chemicals.
The main focus of BUA is on sugar processing. It refines both imported and locally sourced raw sugar which the company does to reduce the high level of importation of sugar in Nigeria. The refinery is structured in a way that during the process of converting molasses to sugar, it can generate its power which is another bonus to the environment.
Indorama Fertilizers
Indorama Fertilizers is one of the top agribusiness companies in Nigeria and a subsidiary of Indorama Corporation. It is a global manufacturing conglomerate that operates across Asia, Africa, Europe and the Americas. It was established in Nigeria in 2016 well known for Urea fertilizer production.
Indorama is an innovative company that has a passion for boosting crop production and yield. Their Agronomiccs service is focused on making plants and crops grow with fertilizers and high-efficiency plant nutrients technology. They have been in this business for some years and farmers in Nigeria and across Africa love and trust their fertilizers.
The plant nutrient technology services provide detailed content on crops, best crop management techniques, fertilizers and pesticides and so many other agriculture-related materials that will improve crop productivity. The company provides information that enriches farmers with some common topics in agriculture like seeds, nutrients, fertilizers and soils. The plant has created a lot of jobs for Nigerian citizens.
Babban Gona
Babban Gona is among the top agribusiness companies in Nigeria. It provides four key services financial services, training and development for farmer groups, Agricultural input services and marketing services required by smallholder farmers to be successful.
Babban Gona aims to raise and help smallholder farmers that are millionaires come 2025. One of the key attributes of this company is that they serve their members in such a way that reduces negative environmental impacts.
SeedCo Nigeria Limited
This is one of the top agribusiness companies in Nigeria that is into the production and distribution of seeds. SeedCo Nigeria limited develop and market certified crop seeds like cottonseed, soya bean, hybrid maize seed, sorghum, wheat, etc. The seeds add consistent value and allow farmers to have surplus food resulting in a good standard of living. These hybrid seeds from SeedCo help in boosting immunity, tolerance and resistance to diseases and reliable high yield performance.
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FarmCrowdy
Farmcrowdy is among the top agribusiness companies in Nigeria that are identified as the First Digital Agriculture Platform that empowers farmers in rural areas. The company provides training on modern farming techniques, farm inputs and improved seeds to rural farmers.
They give the farmers the capacity to cultivate more hectares of land for agriculture to produce more and provide an available market for them to sell their products.
It has also empowered over 25,000 small-scale farmers across the country. Farmcrowdy is out to empower local farmers, their lives and that of their families for sustainability and to boost food production in Nigeria. They have won awards in 2019 for ” Innovative Ideas and Technology in Agribusiness” and “Africa’s innovative Business of the year.
AgroMall
Agromall is one of the top agribusiness companies in Nigeria that supports efficiency in agricultural production by using different digital solutions to optimize best agricultural practices. This, in turn, enhances the financial inclusion of the rural economy and promotes the effective relationship between the smallholder farmer and the other agricultural sectors of the economy.
Agromall ensures that agricultural value chain participants like input suppliers, farmers, outgrower anchors and off-takers work together to achieve results that will benefit all and the host community at large.
Conclusion
The top agribusiness companies in Nigeria as stated above were chosen because they have shown a level of profitability in agribusiness in Nigeria and have also made impacts directly or indirectly on the lives and livelihood of the Nigerian population. The companies listed have a preference for sustainability for the environment and the for the farmers. The companies help in providing innovative services to smallholder farmers and the general public.