Sanwo-Olu charges agro-food companies to lower food prices

Lagos State Governor Babajide Sanwo-Olu on Thursday urged agro-food companies to cooperate with the government in efforts to reduce food prices in the state.

The Governor made the call when the senior management team of Olam Agri Nigeria Limited led by the Managing Director, Mr. Anil Nair, visited him at the Lagos State House in Marina.

He said: “There is no better guarantee of security at this time than food. Today, the first day of August, you can see on the streets of Nigeria there is a kind of hunger protest.

“How pleased you and I are after this meeting to hear that food prices have fallen by 25 percent, that will be very good news for both of us.

“That’s why we chose you to listen and be able to work together. You are in a strategic position and you have that structure and capacity.”

Sanwo-Olu stressed that Olam remains a strategic brand that has brought about major changes in Lagos State.

He reminisces about his days as a banker, and says Olam is the account everyone would want to have.

The governor added: “It’s not a company that makes you wait 90 days or 100 days for their check. The bankers will be hanging around their offices, and as the sale goes on, they just take the check.

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“So for us as a government, we are looking at that growth. I know you must have gone through some challenges, either inconsistent government policies or some of your good plans, but you have stayed the course.”

He urged the brand to consider its long-term relationship with the country and forge partnerships with the country by looking beyond the current economic situation and capitalizing on it.

“We are also pleased that half of your entire workforce is in Lagos. These are all indicators that you are here for the long haul.

“More than that, I encourage you to look at the market, to look at the industry as an essential industry; food security, the food system is as essential as people trying to maintain their medical security or even sovereign security in the event of war.

“I believe one of the things you owe to the country and the people who are loyal to your product is to consciously consider the level of return you are giving.

“I don’t want to use the term, ‘Corporate Social Responsibility’ but how much of a slowdown in shareholder appreciation are you going to put back into the system,” he said.

Sanwo-Olu charges agro-food companies to lower food prices first appeared on Latest Nigeria News | Headlines from Ripples Nigeria.