How Rashed Sarumi is Redefining Nigeria’s Agribusiness Landscape

Rashed Sarumi is not just leading a business; he is helping reshape how agriculture powers Nigeria’s future. As Group CEO of the Saroafrica–SIAT Group, he oversees a vast agro-industrial enterprise that spans over 80,000 hectares of plantations and employs more than 20,000 people across Nigeria and Ghana. With a background in Agricultural Engineering and further […]

Rashed Sarumi is not just leading a business; he is helping reshape how agriculture powers Nigeria’s future. As Group CEO of the Saroafrica–SIAT Group, he oversees a vast agro-industrial enterprise that spans over 80,000 hectares of plantations and employs more than 20,000 people across Nigeria and Ghana.

With a background in Agricultural Engineering and further executive training from Harvard and Lagos Business School, Rasheed brings a blend of hands-on knowledge and strategic foresight to a sector that is both complex and critical to Nigeria’s future. Under his leadership, the Group has made steady advances across agriculture, consumer goods, and agro-processing sectors, which are central to food security and economic resilience.

His contributions have also positioned him on national platforms, including his appointment to the Presidential Economic Coordination Council and the Presidential Committee on Food Security Systems, where he supports national efforts to strengthen agricultural productivity and food security.

In this conversation, Rasheed shares the journey behind the numbers – his early beginnings, the evolution of Saroafrica, the opportunities and challenges within Nigeria’s food system, and why sustainable agribusiness remains a priority for long-term growth.

 

What sparked your interest in agriculture?

Thank you. Growing up in a predominantly agrarian community, I witnessed firsthand how deeply agriculture shaped people’s lives; not just as a means of livelihood, but as a way of life. That early exposure planted the seeds of curiosity and respect for the land and the people who worked it.

Later, I went on to study Agricultural Engineering at Obafemi Awolowo University. That academic journey broadened my understanding of the sector’s potential beyond subsistence farming to driving industrial growth, creating jobs, and transforming economies. It was during that time that I became convinced that agribusiness, if approached with the right mix of science, scale, and strategy, could serve as a powerful engine for national development.

Your journey blends both technical training and executive leadership development. How have your studies from Agricultural Engineering at Obafemi Awolowo University to executive programs at Lagos Business School and Harvard shaped your approach to business and leadership?

Each stage of my education has shaped my leadership style. My degree in Agricultural Engineering gave me a technical and problem-solving foundation. The executive programs at Lagos Business School and Harvard refined my strategic thinking and broadened my perspective on leadership, scale, and building institutions that last.

 

You started Saro Agrosciences back in 1991. What was the vision at that time?

In 1991, Nigeria’s agriculture sector was at a crossroads. Years of underinvestment had weakened the system, and several multinational agrochemical companies were exiting the market, creating a significant gap in the availability of quality inputs and technical support for farmers. Rather than seeing this as a setback, I saw it as an opening and an opportunity to step in and build a locally rooted company that understood the realities of Nigerian farmers and could respond with practical, high-quality solutions.

That was the motivation behind starting Saro Pharma & Chemical Co. Ltd, now known as Saro Agrosciences. The vision was clear: to bridge the gap left by foreign players by offering farmers not only reliable and affordable crop protection products but also the knowledge and training to use them responsibly and effectively.

We were intentional from the start. In 1996, we launched the Productive Farmers Programme to educate farmers and agro-dealers on safe practices. That same year, Saro Agro-Allied began sourcing and exporting cocoa, signalling our expansion into commodity trade. By 1998, we had launched our own branded product lines with a nationwide campaign, a bold move at the time, but one that established our credibility and reach.

Over time, the scope of the business evolved in response to the needs we saw on the ground. We expanded regionally to Ghana in 2003, pioneered the export of certified cocoa from Nigeria in 2007, and acquired a manufacturing facility in Ibadan in 2009 to improve local production capacity.

What began as a response to market exit and unmet need has grown into the Saroafrica Group – an integrated agribusiness and Consumer Business working across input supply, primary production, agro-processing, and FMCG. Our mission has remained the same: to unlock the potential of African agriculture and drive inclusive growth across the value chain.

 

What is the relationship between Saroafrica and the SIAT Group?

Both Saroafrica and SIAT Groups have shared ownership and a common vision for agriculture in Africa. That alignment led to the integration of operations under the joint name, Saroafrica–SIAT Group. It allows us to pool our strengths and operate more efficiently across the entire agricultural value chain- from input supply and agro-industrial production to processing and consumer goods.

Saroafrica-SIAT is said to manage over 80,000 hectares of oil palm and rubber plantations and employs more than 20,000 people across Nigeria and Ghana. How did that scale come about?

It has been a journey of patient growth. We expanded incrementally, driven by a belief in building local capacity. We also reinvested in our people and systems. Our acquisition of SIAT Group in 2024 through our investment vehicle- Oak and Saffron Limited gave us an international footprint, extending operations to Belgium, Côte d’Ivoire, China, and the United States. But at our core, we remain committed to African-led growth- for Africa, by Africans.

Beyond business, you serve on several government advisory bodies, including the Presidential Economic Coordination Council. What is your role there?

My role is to bring the perspective of the private sector, especially from the agribusiness space, into national policy conversations. On the Presidential Economic Coordination Council and the Presidential Committee on Food Security Systems, our focus is on shaping practical, responsive policies — from increasing farmers’ yield, and improved livelihood to enabling agro-industrial processing zones. The goal is to strengthen food security through coordinated, long-term planning that connects government intent with on-the-ground realities.

 

What is your take on Nigeria’s food security challenges?

Food security in Nigeria goes far beyond agriculture; it is a national security, economic, and human development issue. The challenges are layered and interconnected.

At the production level, many farmers still rely on rain-fed systems, outdated tools, and limited extension support. Yields remain well below global benchmarks. This affects both supply and affordability. Post-harvest losses further compound the issue, especially for perishables, due to inadequate storage, processing, and transport infrastructure. Even when farmers manage to bring their produce to market, they often face price volatility and weak aggregation systems.

Land access remains a structural bottleneck. Without clear, secure, and tradable land rights, especially for large-scale or long-term use, it is difficult to attract the scale of private capital needed to modernize agriculture. Investors require predictability, and the current land tenure environment often creates uncertainty that hinders long-term planning and investment. Addressing this will be key to unlocking the kind of capital and innovation that can transform the sector.

Access to finance is also limited, largely because agriculture is seen as high-risk. This perception persists in part because the enabling systems such as data, insurance, warehousing, and value chain coordination are still evolving.

Policy is another critical lever. While many government efforts have been well-intentioned, policy fragmentation and short-termism have weakened their impact. What we need is long-term institutional commitment, better inter-ministerial coordination, and clear frameworks that give the private sector the confidence to participate meaningfully and sustainably.

From where I sit, I believe that solving food security requires systems thinking. We must address the entire chain: inputs, production, processing, logistics, markets, and consumer access. Technology and data can accelerate progress, but only if deployed with strategic clarity and scale.

 

You were also Chairman of the Edo State Oil Palm Programme (ESOPP). How did that experience shape your work?

Serving as Chairman of ESOPP was a defining experience. It offered a front-row seat to how a well-structured public-private partnership (PPP) can unlock large-scale agricultural transformation while delivering value to government, investors, and communities alike.

ESOPP was designed not just as an agricultural production initiative, but as a de-risked investment platform. Through strategic land allocation, supporting infrastructure, and clear oversight mechanisms, the programme aimed to attract responsible private capital into oil palm development, all while regenerating degraded forest areas and improving rural livelihoods.

As Chairman, I helped guide the implementation of key measures such as participatory boundary demarcation and community engagement exercises. These ensured that local stakeholders were not only consulted, but fairly compensated and included in the long-term vision of the project.

The experience reinforced for me the importance of a systems approach- one that connects agricultural investment with environmental sustainability, infrastructure development, and social inclusion. It validated my belief that agribusiness must go beyond producing commodities; it must contribute meaningfully to national development. That philosophy continues to inform how I lead at the Saroafrica–SIAT Group today.

You’re also involved in educational initiatives. Tell us about the Youth Advocacy for Social Change Foundation.

Absolutely. In 2013, my wife Oluwatoyin and I co‑founded the Youth Advocacy for Social Change Foundation in Ilesa, Osun State. What began as a personal passion project has grown into a structured NGO aimed at empowering indigent youths by transforming them into what we call “Change Agents.” Our flagship initiative is the 1000 Change Agents program, which supports underprivileged students through secondary school and into early employment or tertiary education. As of now, we have enrolled 775 students, 185 in secondary school, 275 in university, and several graduates, all supported with tuition assistance, mentorship, and university or job placement guidance. This program goes beyond scholarship; it provides academic tutoring, pastoral care through family and home visits, vocational workshops, and mentorship until these students secure their first job or university admission. It reflects our mission to equip young people with the character, skills, and opportunities to become leaders in their communities. Being hands-on with the Foundation has reinforced for me the importance of holistic development, education, livelihood readiness, and personal integrity. These values influence how I lead at Saroafrica–SIAT, where I believe building human capital is just as important as expanding farmland or processing capacity.

 

Let’s talk legacy. What do you hope to be remembered for?

Hmm. I would love to be remembered for building institutions that endure – structures and systems that continue to create value long after I am gone. I hope to be remembered for helping to shift agriculture in Africa from a subsistence activity to a modern, competitive, and inclusive industry. And most importantly, for opening doors and for creating pathways that allow young Africans to find dignity, purpose, and prosperity through agribusiness and beyond.

 

Finally, what advice would you give to young Nigerians looking to enter the agribusiness space?

Start by understanding that agriculture is not just farming. It is a full value chain with opportunities in technology, finance, logistics, processing, and more. Be curious, stay grounded, and be willing to start small. Agribusiness rewards patience, consistency, and a long-term mindset. And most importantly, see it not just as a career, but as a way to build solutions that serve people and grow the economy. With integrity, patience, and the right partners, the opportunities are endless.