Agroinsurance

NEWS

Chinese Firm to Invest Over N1trn in Niger State Agricultural Sector

20.10.2024 452 views

Niger State agricultural revolution under Governor Mohammed Umaru Bago has received a big boost following the decision of a Chinese firm to invest over N1.094 trillion in the recently established Special Agro- Industrial Processing Zone in Minna, the state capital.

The Commissioner for Commerce and Investment Alhaji Aminu Sulaiman Takuma who disclosed this at the signing of the agreement and it’s groundbreaking in Minna at the weekend said the investment is one of the positives from the recently held Forum on China-Africa Cooperation (FOCAC), which he described as “a major breakthrough in the state’s efforts to boost its economy and create job opportunities for about five thousand women and youths”.

According to him, “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 added that the scheme will transform the agricultural sector in the state into “an internationally competitive sector across Africa”.
The project he said will “focus on high-potential commodities” thereby promoting increased productivity, value addition, market access, and private sector investment”

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

Usman 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”.

Source - https://www.thisdaylive.com

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