Wilmar International Expands Operations in Nigeria
Wilmar International Ltd, a Singapore-based agribusiness company, is expanding its operations in Nigeria. The company’s decision to increase its presence in the country is based on Nigeria’s improving economic situation.
Reasons for Expansion
The company plans to boost its palm oil business, having recently acquired a palm oil venture and old rubber plantations to grow edible oil. This investment reflects confidence in Nigeria’s economic recovery, driven by policies that have improved government finances and increased foreign exchange reserves.
Key Factors Contributing to the Expansion
- Improved government finances
- Increased foreign exchange reserves
Benefits of the Expansion
The company’s commitment to sustainable growth in Nigeria’s palm oil sector is expected to benefit from the stabilizing naira and improved access to foreign exchange.