SAO AGRO’S YEAR 2024 HIGHLIGHTS

2024 Year in Review – Advancing Agriculture, Empowering Communities

In 2024, SAO Agro continued to champion the transformation of Nigeria’s agriculture value chain through sustainable practices and innovative farming solutions. With an expanded team of over 150 key workers and over 800 labourers working on our plantations monthly, we have reinforced our commitment to increasing our investment in food production, installing processing facilities for external clients, and consulting with national policymakers on best practices to curb food insecurity.

This year, we achieved significant milestones in scaling up mechanised farming initiatives. A highlight was the continuous expansion of our oil palm estate, with the transplantation of over 100,000 more seedlings and 120,000 more in the nursery. These efforts have significantly boosted oil palm productivity projections, creating new revenue streams and job opportunities in our host communities.

We have continued to develop critical infrastructure in our host communities by opening up roads, repairing dams, supporting farmers, hiring more women as labourers, and working alongside community heads to better meet the educational needs of the youth— through our Corporate Social Responsibility desk.

We launched a pilot irrigation project across the farmland to address water scarcity and improve crop yields. This initiative has optimised water use, resulting in higher productivity and a more resilient agricultural ecosystem. Our Mechanized Farming Training Program also empowered smallholder farmers with advanced techniques, fostering knowledge-sharing across a wider network nationwide.

Our efforts are geared to balance increased productivity with environmental stewardship successfully. By adopting eco-friendly fertilisers and integrating renewable energy into farming operations, we are paving the way for a greener agricultural sector, reducing our carbon footprint through solar-powered equipment, and implementing sustainable agricultural practices across key operations.

Stakeholder Engagement

We participated in stakeholder engagements and roundtable discussions with the goal of developing agricultural sector policies and improving food security.

Some of the activities included:

1. Participating in the United Nations Industrial Development Organization’s roundtable event for key oil palm industry players.
2. Attending the W2A event, where our CEO, Ayo Sotinrin, was a speaker — for the 3rd edition of the Europe-Nigeria Agri-Investment and Trade Forum (EUNG2024) held at Vrije Universiteit Brussels (VUB) in Brussels, Belgium.
3. Participating in the United Nations High Commissioner for Refugees roundtable for the 2024 African Roundtable on Private Sector Solutions to Internal Displacement.
4. Consulting as an Investment and Advisory partner with the National Agriculture Development Fund to help raise money to increase food production and storage facilities across the country.
5. Joining the Vice President’s Food Security program roundtable to discuss food prices and an immediate need for increased food production and the availability of storage facilities across the country.
6. Participating in the Federal Ministry of Agriculture and Federal Ministry of Finance’s program to supply fertilisers at discounted rates to farmers dealing in rice, maize, sorghum, millet, cassava, and soybeans in Southern Nigeria.
7. Attending the 2024 Africa Investment Forum Market Days in Rabat, Morocco, joining discussions with influential leaders. The event, themed “Leveraging Innovative Partnerships for Scale,” focused on channelling investments into critical sectors such as agriculture, energy, and infrastructure.
8. Engaging with the UN on Sustainable Development Goals, where our CEO, Ayo Sotinrin, joined leaders to discuss partnerships and strategies to advance agriculture, infrastructure, and Nigeria’s Sustainable Development Goals.

Transformational Projects

SAO Agro not only focuses its expertise and resources on its company-owned businesses but also lends its expertise to third-party clients through investment advisory services, project consulting, factory design & installation, food production activities, and training.

This year, we consulted and commenced the installation of a 50 TPD Shea-Nut Processing Line for Kwara State in the North Central Region of Nigeria. The initiative aims to transition from traditional methods to standardised processing of shea nuts into shea butter and derivatives. It will enhance product quality, boost locally generated revenue, and increase exports, benefiting small farmers. Notably, the factory will be predominantly female-led, with over 80% of the workforce comprising women, making it a unique agri-business venture in Nigeria.

Other key projects executed successfully included:

1. Consultation on the development of the cotton value chain in Northern Nigeria.
   Project consultation on the rehabilitation of a defunct cocoa factory in Southern Nigeria and the expansion of cocoa plantations in the region.
2. Commodity trading activities with key players in the cocoa industry.
3. Completion of the large-scale clearing of 1,500 hectares of land in Malate to prepare for mechanised farming operations and future crop planting.
4. Planting of soybeans across 250 hectares of farmland which is a critical crop used in food and animal feed industries for various uses.

Engaging Stakeholders Through Multimedia

To engage stakeholders and showcase progress, SAO Agro produced and published a series of videos highlighting our achievements. These videos featured:

• A Year of Transformation: Advancing Nigeria’s Palm Oil Industry with SAO Agro: Showcasing our strides in oil palm initiatives to boost productivity and empower farmers. (view here)
• Breaking Ground: Land Development and Farming Expansion in 2024: Highlighting our large-scale farming efforts and commitment to agricultural innovation. (view here)
• A Day in the Life: Take a closer look at the daily operations of one of our farm managers, showcasing the dedication and expertise driving SAO Agro’s agricultural success. (view here)

These videos reflect our ongoing efforts to amplify the transformation of the communities by showcasing the impact of our initiatives.

Sustainability at the Core

Balancing productivity with environmental stewardship—aside from adopting eco-friendly fertilisers, we also have integrated renewable energy into farming operations. These practices pave the way for a greener and more sustainable agricultural sector, ensuring long-term benefits for communities and the environment.

Looking Ahead to 2025

As we look ahead to 2025, SAO Agro is poised to scale its impact further. Preparations are underway for the next planting season, with plans to clear 5000 hectares of land at our oil palm plantation and thousands more hectares for fruit and cassava production. We also look forward to commencing the rehabilitation of a 30,000-metric-ton-capacity cocoa processing factory, which will significantly enhance Nigeria’s processing capabilities and boost exports.These initiatives are part of our long-term commitment to driving agricultural value chain development, reducing post-harvest losses, and contributing to the nation’s food security agenda.

With these ambitious plans, SAO Agro remains dedicated to transforming agriculture through innovative, sustainable, and inclusive practices, ensuring a brighter future for Nigeria’s farming communities. In 2024, SAO Agro continued to champion the transformation of Nigeria’s agriculture value chain through sustainable practices and innovative farming solutions. With an expanded team of over 150 key workers and over 800 labourers working on our plantations monthly, we have reinforced our commitment to increasing our investment in food production, installing processing facilities for external clients, and consulting with national policymakers on best practices to curb food insecurity.

This year, we achieved significant milestones in scaling up mechanised farming initiatives. A highlight was the continuous expansion of our oil palm estate, with the transplantation of over 100,000 more seedlings and 120,000 more in the nursery. These efforts have significantly boosted oil palm productivity projections, creating new revenue streams and job opportunities in our host communities.

As we look ahead to 2025, SAO Agro is poised to scale its impact further. Preparations are underway for the next planting season, with plans to clear 2,500 hectares of land at our oil palm plantation and thousands more hectares for fruit and cassava production. We also look forward to commencing the rehabilitation of a 30,000-metric-ton-capacity cocoa processing factory, which will significantly enhance Nigeria’s processing capabilities and boost exports.

With these ambitious plans, SAO Agro remains dedicated to transforming agriculture through innovative, sustainable, and inclusive practices, ensuring a brighter future for Nigeria’s farming communities.