Olam Agri invests $400M by 2028, feed mills coming to Nigeria, Cameroon, Ivory Coast
Olam Agri announced a $400 million investment through 2028 to expand food and feed processing across Africa, including new animal feed mills in Nigeria, Cameroon, and Ivory Coast. The plan builds on $115 million invested in West African processing since 2024. In Nigeria, Olam will establish a third animal feed plant for poultry and fish feed, expand semolina production, and add 850 trucks to its distribution fleet. Cameroon gets a 300,000-tonne poultry feed plant targeting early 2028 operations. Ivory Coast sees Olam's first entry into food and feed processing with wheat milling, animal feed, and poultry breeding. Ghana's pasta capacity expands. At full capacity, the new mills will buy over 500,000 tonnes of corn and soybeans annually from 130,000+ smallholder farmers.
This aligns with Nigeria's push to boost domestic production. Wheat output jumped from 120,000 to 420,000 metric tonnes under the National Agricultural Growth Scheme. Parallel investments include NSIA's $500 million dairy project, SIAT NV's $100 million in Presco Plc, and EU-backed AgriFI's $2.5 million in Tomato Jos. The trend signals growing private-sector confidence in local value chains beyond raw agriculture.
For farmers, this means new guaranteed buyers for corn and soybeans. For consumers, more local processing could stabilize prices of feed, flour, and pasta. For job seekers, new mills and fleet expansion mean employment in manufacturing and logistics.
With major agribusinesses doubling down on local processing, will Nigeria finally cut its food import bill and build resilient domestic supply chains?