ALAYIDE, OYO STATE — While Nigeria is the world’s largest producer of cassava, the crop has historically been viewed as a subsistence staple for garri and fufu. However, Yemisi Iranloye, the founder of Psaltry International, has spent the last 15 years proving that this humble root is the key to Nigeria’s industrial sovereignty.
Starting with a hobby farm in 2005 and transitioning to full-time entrepreneurship at age 40, Iranloye has transformed a rural patch of Oyo State into a multi-factory complex supplying global giants like Nestlé, Unilever, and Nigerian Breweries.
From Roots to Riches: The Industrial Value Chain
Cassava’s versatility is its greatest asset. By moving beyond food consumption into industrial processing, Psaltry International has tapped into high-value markets that were previously dominated by imports.
Psaltry’s Product Evolution:
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Starch (2013): Used as a binder in food and a critical component in corrugated cardboard.
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High-Quality Cassava Flour (2015): A gluten-free wheat alternative for the health and wellness sector.
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Sorbitol (2022): A natural sweetener for toothpaste and oral care. Previously, almost all sorbitol in Nigeria was imported from Asia.
The Competitive Edge: “Direct-to-Farm” Logistics
Nigeria has several cassava processors, but many fail due to the crop’s rapid spoilage—cassava begins to deteriorate within 24–48 hours of harvest.
Iranloye’s “Secret Sauce” was her willingness to build in the “middle of nowhere.” By placing her factory directly adjacent to her farm and a network of 16,000 small-scale farmers, she minimized transport time, maximized starch yield, and ensured a quality that met the stringent standards of multinationals like Nestlé.
Overcoming the “Infrastructure Gap”: | Challenge | Psaltry’s Solution | | :— | :— | | No Roads | Constructed their own access roads for trucks. | | No Power | Ran on heavy-duty generators before eventually connecting to the grid. | | No Water | Drilled industrial boreholes to provide for both the factory and the local community. | | Input Quality | Started with “stem multiplication” to provide farmers with high-yield varieties. |
The “Buy Local” Surge: Forex as a Catalyst
Recent volatility in the Naira has acted as an unexpected tailwind for Psaltry. As the cost of importing corn starch or wheat flour skyrocketed, Nigerian manufacturers pivoted to local alternatives.
“More companies are seeing the reason why they should buy local,” Iranloye noted. This shift has seen the number of industrial cassava processors in Nigeria grow from a handful to over 20 in the last five years.
Entrepreneurship Lessons: The “Iranloye Way”
Reflecting on her journey from a food biochemist to an industrialist, Iranloye offers three pillars for success in the Nigerian agribusiness space:
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Delayed Gratification: Treat the business as a separate entity. Do not treat revenue as personal income.
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Passion as a Survival Tool: In agriculture, things will go wrong—weather, pests, or machinery. Passion is the only thing that keeps you in the field during those periods.
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Persistence over Clarity: You don’t need a perfect 10-year plan to start. Start, and the path will reveal itself as you grow.
Beyond Cassava: Iranloye is already eyeing the next frontier, identifying Sweet Potatoes (for starch) and Coconuts (where “every part can give money”) as the next big opportunities for Nigerian agribusiness founders.
