NewStats: 3,262,548 , 8,177,444 topics. Date: Monday, 02 June 2025 at 04:52 PM 2m346p

Lagos State Governor, Mr. Babajide Sanwo-Olu, has urged agro and food processing companies to work toward reducing their prices during this time of economic hardship as a way of giving back to the society and ensuring food security in Nigeria.

Governor Sanwo-Olu made the call on Thursday during a courtesy visit by the Senior Management Team of Olam Agric Nigeria, led by its Managing Director/CEO, Mr. Anil Nasir, at Lagos House, Marina, saying that Nigerians were currently going through tough times; therefore, the need for private organisations, particularly agro and food processing companies to think about people’s survival and sustainability above profitability at this crucial period in Nigeria

Sanwo-Olu, who stressed the need for food security and from every well-meaning individuals and organisations, said his istration had done a lot through several intervention programmes to cushion the effects of economic hardship on the residents of Lagos State, assuring that he would do more to continue to provide succour for the people.

“Agro and food processing is a critical industry because food security and food systems are as critical as people trying to safeguard either medical security or even sovereign security in times of war. There is no better security these days than food.

“Today, being the first day of August, you can see agitation in some streets in Nigeria as a result of hunger. You (Olam Agric) are in a strategic position, and you have that structure and that capacity. At a difficult time like this, it shouldn’t be only the government reducing costs and providing avenues for people to buy things at a reduced price.

“You must be able to tell your shareholders that you have been in this environment for such a long time, and today it should not be about profit-making. Let us go into this market and just cover our costs and let us on. Let the people feel the critical .

“I want you to take this message back. The private sector needs to know that there are times when it does not have to be about value to the shareholders because of food security and the logistics nightmare that is happening everywhere due to the economic challenge. We are all t stakeholders, and we need to slow down on shareholder returns. We need to be alive today to be able to make a profit tomorrow,” Governor Sanwo-Olu stated.

Speaking earlier, the Managing Director/CEO of Olam Agric Nigeria, Mr. Nair, commended Governor Sanwo-Olu for his leadership in the state in the last five years, especially in the areas of security and making Lagos safe for foreign and local investments.

He sought more partnerships with the Lagos State Government in the agriculture and food sectors, saying his company wqs ready to invest more in the state.

Governor Sanwo-Olu on Thursday also received the District Governor of Lions Club International District 404B2 Nigeria, Lion Tolulope Ayodeji Senbanjo, as well as the District Governor of Rotary International District 9112, Rotarian Olufemi Adenekan, and District Governor of Rotary International District 9111, Rotarian Oluwole Kukoyi, who paid him courtesy visits at Lagos House, Marina, respectively.

Speaking during the two courtesy visits, Sanwo-Olu commended Lions Club International and Rotary International for their humanitarian services in key sectors of the state, particularly in the provision of infrastructure in the areas of health, education, and transportation, among others.

He expressed his istration’s commitment to continue to partner with Rotary International and Lions Club International for humanitarian services to make life comfortable for Lagos residents in line with the THEMES+ developmental agenda, which aligns with the core values of the humanitarian groups.

https://tribuneonlineng.com/hardship-sanwo-olu-urges-agro-food-processing-companies-to-crash-prices/

APC no just got get sense at all

See what's coming out from the mind of a graduate ?

What happened to Lagos rice oroject? U couldn't sustain it but u want to tell successful business how to run themselves?

Good morning Sanwo-Olu.

Government should let agro and food processing companies import wheats, corn, rice etc into Nigeria for free.

Good move

Let’s see how this plays out for the masses

Crash prices based on what? I didn't know Sanwo Olu thinks like Orji Uzor Kalu. These executive rascals are acting like they don't know how an economy should function. If the problem is food scarcity, high cost of goods and services, the panacea isnt rocket science.

The president himself is the greatest otondo in Nigeria. That one is completely senseless. And he is always running away from public engagement.

Tinubu doesn't have the mindset of a human. He functions like an endoskeletal being programmed with artificial intelligence

If the useless policies he introduced are not reversed, sorry, the situation isn't getting any better anytime soon.

I actually don't have time to go through this epistle but if I should comment based on the headline, I should advise Sanwolu to give that order to tinubu his master to bring down the cost of fuel price also remove the high tasks on the import duty from cars to other imported items

Nonsense as usual

Mad fellow.
They are business men who look to maximize profit and thus prices.
You are a public servant who should minimize cost of governance but do you do that? Instead you award outrageously priced contracts with public funds and turn around to play on intelligence of the people by asking business men and women to crash prices. Very idiotic to pretend to be on the people's side after robbing them blind into the future.

Why not urge Tinubu to crash fuel price.

Chinkoalhaji34:
Good move

Let’s see how this plays out for the masses

Good move to waste public funds but be giving dummy orders to private individuals to crash prices. That's the equivalent of blaming businesses for food prices.
It isnt about bandits levying farmers who then transfer same to consumers. It isnt about security agents taxing transporters of food nor thugs and taskforces taxing them. It is about the businesses just being greedy yet many are closing down.

I think he needs somebody to lecture him properly because he is not making any sense.

This is the kind of leadership we need! Let’s make food affordable for everyone in Lagos.

Just like that?

Nigerians are really dealing with some empty idiotic leaders

That's Good.

Crash fuel prices
Others will follow

mrvitalis:
APC no just got get sense at all

See what's coming out from the mind of a graduate ?

What happened to Lagos rice oroject? U couldn't sustain it but u want to tell successful business how to run themselves?

I don't understand how govt dey think sef

These guys are short of ideas...

Simple.

They are moving around in circles so much it reminds me of a barber's chair.

Make una move forward small Abeg. Na why people vote una!

The builder of Lagos is short of ideas

Na u dey supply Dem diesel and petrol for free for their company

You need to consider their cost of production first


Since last year, I have said it that removal of fuel subsidy & floating of naira simultaneously will affect our economy badly

I expect Mr President to settle in the office & assess things before making any moves but instead he declared fuel subsidy is gone the same minute he was sworn in & all filling station across the country change their price the same day. I bought fuel at 198naira while going on but noticed 500naira everywhere on my way back. as if that's not enough, fuel price jumped to 580 again within few weeks

What about cost of production and over 50 taxes manufacturing company pays

Obidients love looting!

Can you imagine?!

Did these companies just wake up & increase prices? Wasn’t it inconsiderate government policies that led to the price increase? These companies have to pay salaries, they buy diesel to operate too. They can’t crash prices because you said so as a governor. You as a governor that is supposed to reduce/crash the cost of governance have refused to do so.

Give them tax holiday or access to interest free loans & then you can tell them to reduce the price. Haba oga make una dey think na. This is someone’s business & salaries will have to be paid.

Crash prices when the prices of raw materials and feeds for livestock are at record highs. If this isn’t stupidity then I don’t know what to say.

The empire is collapsing

He shouldn't have said that, it was better he kept quiet than saying this.
Tell Mr President to take fuel back to #195, drive the bandits and terrorizing fulani herdsmen out of Nigeria and watch prices go down.

ijustdey:


https://tribuneonlineng.com/hardship-sanwo-olu-urges-agro-food-processing-companies-to-crash-prices/

Our politicians are not serious. Is it by urging or by taking necessary and drastic actions?