Sanwo-Olu Urges Agro, Food Processing Companies to Lower Prices Amid Economic Hardship

Lagos State Governor, Babajide Sanwo-Olu, has called on agro and food processing companies to reduce their prices in response to the current economic difficulties in Nigeria.

Speaking on Thursday during a meeting with the senior management of Olam Agric Nigeria, led by its Managing Director/CEO, Anil Nasir, at Lagos House, Marina, Sanwo-Olu emphasized the importance of these companies prioritizing societal well-being over profit during these challenging times.

Governor Sanwo-Olu highlighted the critical role of the agro and food processing industry in ensuring food security, comparing it to the importance of medical and sovereign security. He noted the growing public unrest due to hunger and stressed the need for private companies to act as stakeholders in mitigating the economic strain on Nigerians.

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“You are in a strategic position, and you have the capacity to make a difference,” Sanwo-Olu said. “At a difficult time like this, it shouldn’t be only the government reducing costs. You must be able to tell your shareholders that today is not just about profit-making—it’s about supporting the people.”

Sanwo-Olu also pointed out that the Lagos State Government has implemented various intervention programs to alleviate the economic burden on its residents and promised continued efforts to provide relief.

In response, Anil Nair, Managing Director/CEO of Olam Agric Nigeria, praised the governor for his leadership in making Lagos a safe and secure environment for both foreign and local investments. He expressed Olam’s readiness to deepen its partnership with the Lagos State Government in the agriculture and food sectors.

On the same day, Governor Sanwo-Olu also received visits from the District Governors of Lions Club International District 404B2 Nigeria and Rotary International Districts 9112 and 9111.

During these visits, he commended both organizations for their humanitarian contributions, particularly in health, education, and transportation. Sanwo-Olu assured them of continued collaboration to improve the lives of Lagos residents in line with the state’s THEMES+ developmental agenda.

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