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

The Lagos State Governor, Babajide Sanwo-Olu, on Thursday urged agro-food companies to collaborate with the government on efforts to bring down the prices of food items 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 security these days than food. Today being the first day of August, you can see in the streets in Nigeria there’s some sort of hunger protest.
“How I wish that you and I after this meeting will make a broadcast that food prices have gone down by 25 percent, it will be great news for both of us.
“That speaks to the reason why we chose you to listen and hear and be able to work together. You are in a strategic position and you have that structure and that capacity.”
Sanwo-Olu stressed that Olam remained a strategic brand that had caused a great turnaround in Lagos State.
He recalled his days as a banker, saying that Olam was an account that everybody usually wanted to have.
The governor added: “It wasn’t a company where you need to wait 90 days or 100 days for their cheques. Bankers would hang around their offices, and as the sales were going on, they were just picking the cheques.
“So for us as government, we watch that growth. I know you must have gone through your challenges along the line either government policies that have somersaulted or some of your good plans but you stayed the course.”
He urged the brand to consider its longstanding relationship with the state and forge partnership with the state by looking beyond the current economic situation and leveraging it.
“We’re also happy that half of your entire workforce are in Lagos. These are all indicators that you are here for the long haul.
“Beyond that, I urge you to look at the market, to look at the industry as a critical industry; food security, food systems is as critical as people trying to safeguard either their medical security or even sovereign security in terms of war.
“I believe part of the things that you owe the state and the people that have also been loyal to your products is to consider what level of giveback you are making consciously.
“I don’t want to use the word, “Corporate Social Responsibility” but what level of slowdown in shareholder appreciation are you going to throw back into the system,” he stated.
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