Food Industrial Park Limited has signed a $100 million annual offtake agreement with India's Best Engineering Technologies for the supply of over 500 tons of essential oils sourced from Nigerian plants and spices.
The partnership is expected to strengthen Nigeria's non-oil export base and create significant opportunities for small businesses across the agricultural value chain. It will also support the cultivation of 3,000 hectares of aromatic crops—including lemongrass, basil, thyme, ginger, and turmeric—across Ogun, Oyo, and Kogi states.
Read also:
Speaking after inspecting facilities in Abeokuta, Tede, Ofodo, and Lokoja, Mr. Pavan Kumar of Best Engineering Technologies expressed confidence in the venture and pledged technical support and training for local partners.
Michael Anibi, CEO of Food Industrial Park Limited, said the initiative brings together farmers, processors, and technical experts, with plans to engage at least 1,250 youths and women—each expected to earn over N1 million annually.
Preliminary work is already underway at project hubs in Abeokuta, Tede, and Lokoja. Abisola Keke, Director of Business Analysis at Nardus Limited, one of the stakeholders, noted that their team has already processed several local botanicals and is scaling production. She added that Nardus has developed six essential oil-based products, including soap, haircare oil, and body cream, pointing to strong prospects for local value addition.
