Nigerian Governor secures N1tn agro sector deal with Chinese firm
The Niger State government has secured N1 trillion investment from a Chinese firm to boost agricultural productivity in the Special Agro-Industrial Processing Zone.
Arewa PUNCH calculates that the investment, which is valued at $684 million will further make the state a hub for agro-industrial processing in the country.
The Commissioner for Commerce and Investment, Aminu Takuma, disclosed this latest investment arrangement on Saturday after the ground-breaking and signing of the contract deal at the Government House, Minna.
Takuma said that the state was on track to reposition itself as a major player in Nigeria’s agricultural sector, driven by the vision of Governor Mohammed Bago.
“We have taken a significant step towards transforming the agricultural sector through a partnership with Chinese investors and have secured an investment worth $684 million (N1.094 trillion) in the Special Agro-Industrial Processing Zone (SAPZ) from China Overseas Engineering Group Company Limited (COVEC) and China Railway Engineering Corporation (CREC),” Takuma noted.
He added, “This milestone agreement was signed during the recent Forum on China-Africa Cooperation (FOCAC), marking a major breakthrough in the state’s efforts to boost our economy and to create job opportunity for about five thousand women and youths.”
The Commissioner further disclosed that the Niger State Government had a crucial meeting with the African Development Bank team, COVEC and CREC to discuss the implementation plan for the SAPZ development, which, he said, aims at transforming agriculture into an internationally competitive sector across Africa.
Accordingly, he stressed that by focusing on high-potential commodities, the program would promote increased productivity, value addition, market access, and private sector investment.
In his remarks, the Secretary to the State Government, Abubakar Usman, explained that the project was expected to revolutionise the agricultural landscape by stimulating the socio-economic growth and development in the state.
“With the support of COVEC and CREC, Niger State is not only poised to becoming a model for agricultural transformation in Nigeria, but will attract significant investments from local and international partners.
“The program will boost agricultural productivity and make the state a hub for agro-industrial processing and generate thousands of employment opportunities for the locals,” Usman revealed.
