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Business News of Tuesday, 4 October 2022

Source: www.legit.ng

Meet Yemisi Iranloye Nigeria's queen of cassava who makes over N5bn yearly

The Nigeria farmer launched a company in 2015 (Photo: Yemisi Iranloye) Source: UGC The Nigeria farmer launched a company in 2015 (Photo: Yemisi Iranloye) Source: UGC

It is interesting to know that some Nigerians are cashing out from the agricultural industry while others hunt for 9-5 jobs in an economy that rewards ingenuity and persistence.

Talking about agriculture, Nigeria is amazingly the world's largest producer of Cassava, and some farmers are making it big time from the food crop.

One such person is Yemisi Iranloye, known as the Nigerian queen of Cassava, who is said to have overcome all the multinationals and maintained the lead in the business.

With a production of 10,000 tons of cassava per year, Iranloye makes an amazing annual turnover of $12 million (N5,136,120,000.00).

She is a good example of a serious farmer that needs all the encouragement from the federal government to produce more.

Commenting on her business in the Nigerian economy and environment, Iranloye said:

"May Nigeria succeed and survive its detractors. We are marching forward positively, progressively, and successfully in agriculture."

Being the visionary that she is, Iranloye launched Psaltry International Limited in 2015.

Facts about the Psaltry International Limited

1. Psaltry International Limited reached an annual income of 12 million USD after 10 years of operation.

2. The company operates a network of more than 5,000 farmers, and its customers include big names like Nestlé and Unilever.

3. Psaltry International Limited has specialized in the production and processing of cassava in Nigeria.

4. Among its derived products, starch, flour, but also sorbitol, a natural sweetener obtained from this tuber.

5. It produces over 10,000 tonnes of starches each year.