Promasidor Plans Fresh Mega Investment in Nigeria

Promasidor Nigeria Limited, makers of Cowbell milk is planning to inject more investments in Nigeria that will be four to five times the size of its current investment in the country.

Mr. Robert Rose, Founder of the company disclosed this in an interactive session with the media in Lagos recently.

According to him,  when we  came to Nigeria 18 years ago we did not have reliable data to know what will serve the market better but with  what we have done with our products over the years, not only have we  increased our market share but we have  also grown the market many times. His belief, however is that what Promasidor has done is nowhere near where its potential is.

Speaking further on the planned investment, he said,  “It will be based on an agricultural product which is grown in Nigeria, Soya beans, and it will improve the nutrition of everybody in this country,  if you are already eating beans, then you should be familiar with Soya. Soya is one of the most nutritional vegetables. It has the same nutritional content as meat. It can be sold one third the cost of meat”.

Continuing, he said, “we have already done a market test in Kenya where we taught the people how to grow the right variety of Soya, It is a fantastic product which they never thought they could grow before. We introduced the right variety and we guaranteed the price for them and they are now making money”.

His words, “we are already talking with some state governments to find a site for it. We cannot put a number to it at the moment but we are doing the research. Paul, my son is responsible for putting the people together.

Continuing, he said, “The interesting thing about Soya is that it is a very viable crop. If you grow Soya this year then you can grow maize or any other cereal the following year. So, for the farmer it is an incredible crop and it is good for everybody. So if it is good for everybody then it will improve the nutrition of the country and it will improve the agricultural industry and it will be a win-win situation for everybody”.

Our biggest market is Nigeria because you have more people than any other country in the continent. You have a population of about 150 million and at the moment we sell to about 600 million people in Africa, so Nigeria in our minds will always be 25 per cent of our business. Nigeria should be the biggest market for us. It is a wonderful market but it’s been neglected over the years.