Please note: you are viewing an old version of this deal. The current version can be found here: Deal #1684

Deal #1684 Version #88660

Nigeria

Created at

2013-02-15

Last update

2022-11-18

Last full update

2024-05-20

Land area

Intended size

10 000 ha

Size under contract (leased or purchased area)

[2010] 6000 ha
[2015] 10000 ha
12920 ha
[2022, current] 13500 ha

Size in operation (production)

[2014] 4000 ha
[2017] 4400 ha
[2019] 5427 ha
[2022, current] 4400 ha

Comment on land area

At the mill inauguration, Olam announced that it plans to increase its acreage up to 10,000 hectares. 2015 Annual report states 10000ha under contract. 12,920 hectares is the total area of the farm, 10,000 hectares to be covered with rice paddys. It was recorded that the company is seated on a thirteen thousand, five hundred (13,500) hectares land and operates a crop area of four thousand, four hundred (4500) hectares (this is directly from the media report- with the conflicting information).

Intention of investment

[current] Food crops (12920 ha)
[2022, current] Food crops (13500 ha)

Comment on intention of investment

Processing factory for rice and cashew nuts. One commercial farm but also using input from local farmers. In October 2022,4,000 hectares of farmland has been submerged due to the floods.

Nature of the deal

Lease

Negotiation status

[2010, current] Concluded (Contract signed)

Implementation status

[2012] In operation (production)
[2019] In operation (production)
[2022, current] In operation (production)

Contract farming

Yes

Not on leased / purchased (out-grower)

Yes

Not on leased area/farmers/households (out-grower)

[current] 5563 ha

Comment on contract farming

Target of 16000 farmers by 2018