Niger Gov’t secures N1 trillion agro-processing fund from China

Niger State government has secured an investment worth over One Trillion Naira (N1.094 trillion) in the Special Agro-Industrial Processing Zone (SAPZ) from Chinese firms to boost agricultural productivity and make the State a hub for agro-industrial processing.

Making this disclosure after the ground-breaking and signing of agreement at the Government House, Minna, the Commissioner for Commerce and Investment, Aminu Suleiman Takuma said the State is on track to reposition itself as a major player in Nigeria’s agricultural sector, driven by the vision of Farmer Governor, Mohammed Umaru Bago.

According to Takuma “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).

“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”.

Takuma further disclosed that, the Niger State Government had a crucial meeting with the African Development Bank (AfDB) team, COVEC and CREC to discuss the implementation plan for the SAPZ development, which he said aims to transform agriculture into an internationally competitive sector across Africa.

Accordingly, he said, by focusing on high-potential commodities, the program will promote increased productivity, value addition, market access, and private sector investment.

In his remarks, Secretary to the State Government, Alhaji Abubakar Usman said the project is expected to revolutionize the agricultural landscape by stimulate socio-economic growth and development in the state.

He added that, “with the support of COVEC and CREC, Niger State is not only poised to become 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 locals”.