By Dipo Olowookere

A well-refined and heart-healthy cooking oil designed to meet the evolving nutritional needs of households has been introduced into the Nigerian edible oil market by Olam Agri.

The product, Mama’s Pride Soya Oil, is a carefully developed innovation tailored for Nigerian kitchens and homes.

It is fortified with Vitamin A and Omega 3 and 6, and has zero cholesterol content, with long-lasting frying performance, ensuring value for money for consumers.

To produce Mama’s Pride Soya Oil, the company had strong engagements with the soy farmer community and the government. Its $50 million state-of-the-art soybean crushing plant and feed mill complex in Ilorin, Kwara State, serves as the largest in sub-Saharan Africa with a processing capacity of 250,000–350,000 metric tonnes annually, supporting local soybean production.

This is supplying Olam Agri’s feed-milling unit and its edible oil unit subsidiary, Ruyat Oil, which specialises in processing and refining various vegetable oils for the Nigerian market.

“Mama’s Pride Soya Oil is proudly produced in Nigeria for Nigerians. It is thoughtfully developed as a product consumers can trust for their everyday cooking.

“With its superior quality, health benefits, and long-lasting performance, we are confident it will redefine standards and emerge as a market leader,” the Africa Head of Edible Oil Processing at Olam Agri, Mr Saurabh Kumar, said at the unveiling of the new product.

“This product reflects our continuous investment in Nigeria and belief in its potential. It builds on our impressive achievements across rice, wheat milling, animal feed, and sesame segments.

“From sourcing soybeans locally to processing them into high-quality oil, our new edible oil product is built on excellence, sustainability, and trust,” he added.

Also speaking, the Head of Marketing, Ms Bola Adeniji, said, “We encourage consumers to choose healthy, non-adulterated edible oils. Mama’s Pride Soya Oil offers not just quality, but safety and nutrition. We call on our trade partners and dealers to champion authentic brands and help eliminate adulterated products from the market for the overall health of Nigerians.”

In his remark, the Managing Director for Wheat Milling Business, Mr Nitin Mehta, said, “This is a historic moment for us. To change the game, we must offer consumers a high-quality product at an affordable price. Mama’s Pride Soya Oil embodies that vision.

“After over a year and a half of rigorous product research and development, we are proud to deliver a product that meets the highest standards.

“We have seen tremendous support from our dealers across our pasta and semolina products, and we are confident that with their continued partnership, Mama’s Pride Soya Oil will achieve even greater success in the market.”

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By Modupe Gbadeyanka

At least two residents of the Iraboko area of Lagos State were recently given a N100,000 grant each by the mobile money arm of MTN Nigeria, MoMo Payment Service Bank (PSB).

The beneficiaries, Mr Ibrahim Abdulrazaq and Ms Sobanke Rasheedat, were also each given a POS device to launch their own businesses at the commissioning of a new Y’ello Box digital centre in Awoyaya.

“I’m so happy that I’m among the people they picked. I really appreciate it. This MoMo account means a lot to me,” Ms Sobanke enthused.

“I would like to use the money to upgrade my business because I’m a business owner. I sell bags. And my mom sells flowers,” she added.

The digital centre cited in the community is to equip the local population, particularly women, with the necessary digital financial skills to navigate the modern economy and secure their families’ futures.

The Central Bank of Nigeria recently stated that there is still an over 20 per cent gap left to meet its National Financial Inclusion Strategy (NFIS) target of 95 per cent overall financial inclusion (this was originally set for the end of 2024).

Currently, 74 per cent of Nigerians are financially included, as of the first half of 2025. This presents an opportunity that MoMo PSB intends to step in to fill.

“Our initiative is centred on financial inclusion – ensuring that the economic value generated within this ecosystem remains in the community to fuel sustainable local growth,” the acting Chief Commercial Officer of MoMo PSB, Mr Victor Onyebuchi, stated.

The activation was an immersive experience led by the MoMo team, under the guidance of the company’s Chief Compliance Officer, Ms Deborah Odo-Effimi. Residents were taught how to use MoMo for secure transactions, SIM registrations, and business management.

To encourage the adoption of digital banking, MoMo rewarded active participants with prizes. Residents walked away with solar-powered fans to combat the heat, umbrellas for the rainy season, and branded caps and wristbands.