Established in 2005, Psaltry is the first to produce cassava-based sorbitol in Africa, and 2nd in the world after Indonesia.
The asset base of $20million USD
PIL also produces Cassava based glucose syrup.
PIL runs an Outgrower farmer scheme of 3500 farmers 500 Agripreneurs.
• 24MT per day sorbitol factory.
• 40MTper day food-grade starch
• 20MT per day High-quality cassava flour
The factory Recycles cassava peels, and pulp waste into pellets for powering wood boilers in the production factory.
PIL Enzymizes starch into glucose and hydrogenize glucose into sorbitol.
Sorbitol is a major raw material for toothpaste production, while food grade starch is a raw material for seasoning cubes, beverages, and medications.
Psaltry is the major supplier to Nestle, Unilever, Nigerian Breweries, Promasidor.
The New Sorbitol plant located in Odo Awaye Oyo state will be officially commissioned in March 2020.
Profile of Folusho Olaniyan (OON)
CEO Contact Consulting Nigeria & Programme Director Agrainnovate West Africa
Folusho started her career in the food industry as a management trainee with A.G.Leventis Nigeria. Plc. in 1988. As Head of Sales and Marketing, in 2005, she joined UTC Nig Plc and was appointed Managing Director/CEO in 2007; a post she held till 2013, when she collaborated with the Federal Ministry of Agriculture and rural development on the Agricultural transformation agenda, to pioneer the commercialization of cassava flour inclusion in bread and pastries. She set up Contact Consulting Nig. Ltd; a Market Research, Business advisory, and advocacy, organization, focused on Agricultural value chain development and investments in 2013.
She has served as consultant/ market analyst to Partnerships In Niger Delta PIND project, CAVA Cassava Adding Value for Africa; a Bill and Melinda Gates funded project, headquartered at the Federal University of Agriculture, Abeokuta, Nigeria, and as an expert advisor to Dalberg Global advisors on the IDH Market study on commercial opportunities in agricultural value chains in Nigeria. Folusho also served as Business Development and Marketing Adviser to MADE (Market For Development in The Niger Delta), funded by DFID through DAI UK. and as a consultant to Palladium Group the United Kingdom, on the West Africa Food Markets Pilot Programme in 2016. She also served on the judging panel of the Rockefeller Foundation Cassava Yieldwise $1million dollars Challenge set up in 2016 to promote innovation in cassava post-harvest practices, as well as being a consultant to the World economic forum Grow Africa project in, on data assessment of maize, soya bean, and coffee sectors in Tanzania, Ghana, and Ethiopia.
Folusho is a member of the project advisory council of BASICS-(Building an Economically Sustainable, Integrated Seed System for Cassava In Nigeria), a 4-year project (2016-2020) funded by Bill and Melinda Gates Foundation. Folusho is also a member of the Governing Council of Ekiti state university Nigeria.
Her firm, Contact consulting Nigeria is the conference partner to Informa group UAE on the Agrainnovate West Africa conference and exhibition, which has been successfully run from 2013 to date. Contact Consulting Nigeria is a founding partner to Nigerian Agricultural seeds council on the Seedconnect Africa Conference and exhibition launched in 2017.
Folusho led the advocacy team on the AGRA $240,000USD funded policy reform project titled: Advocacy for the passage of the fertilizer control bill, the Nigerian independent warehouse regulatory agency bill, and the presidential assent to the Nigerian seed council Bill., from October 2018 to January 2020. She has the responsibility for developing and coordinating the advocacy work plan for the project, in collaboration with the Nigerian economic summit group. The National seeds council bill was assented to by the President of Nigeria in 2019, and the fertilizer bill was passed by the Nigerian Senate also in 2019.
Folusho also served as an expert advisor to Dalberg Global development advisors in partnership with IDH The Sustainable Trade Initiative of the Dutch Government, on the Ondo state commercialization study on five high potential agricultural value chains: Cocoa, Oil palm. Cashew. Aquaculture, Vegetables in Ondo state in 2019.
In October 2019, Folusho partnered with the Ambidextrous UK to develop the Brands Basecamp Africa project, with the objective of nurturing talent and teaching best practices, to help businesses meet local challenges pertaining to segmenting consumer markets, shaping brands, and growing businesses through innovation and communication.
Folusho is a fellow of the Chartered Institute of Marketing UK, and a fellow of the Institute of Directors. She holds a Master’s degree in Public Administration from the University of Lagos, Nigeria, and a professional postgraduate Diploma in Marketing from the Chartered Institute of Marketing, Cookham, United Kingdom. She attended the Johnston institute for responsible leadership at the University of Pittsburgh Pennsylvania for a certificate programme in organizational leadership in 2009.
Folusho has attended two fellowship programs of the United States Department of Agriculture USDA, on Women in Agriculture, and snack food development at the Iowa state University USA between 2015 and 2017. A Cochran fellow of the United States Department of Agriculture USDA, Folusho is also a member of the International Food and Agribusiness Management Association, USA.
Folusho is the current Program Director of Agra innovate West Africa, an annual conference funded by Informa Group UK and UAE. Informa is the world’s largest publicly quoted exhibition company. The Agrainnovate agribusiness trade show and conference is an annual knowledge sharing and business partnerships/ deal making platform attended by 6,000+ visitors from over 20 countries across the globe. In recognition of Folusho’s contributions to the Nigerian food industry, she was awarded National honours of Officer of the Order of the Niger (OON) in September 2014 by the President and Commander in Chief of the Federal Republic of Nigeria.