NIGERIA: NIGERIA PLANS $1 BILLION PROCESSING ZONE TO BOOST EXPORTS - CALIPHATE MEDIA

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Friday, 10 November 2017

NIGERIA: NIGERIA PLANS $1 BILLION PROCESSING ZONE TO BOOST EXPORTS


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By Victor Odom
The Government Nigeria is currently putting finishing touches to its plan of establishing a $1 billion crop-processing park with investors from Turkey in the northern part of the country as part of efforts to boost agricultural and increase value addition for exports.
One of the processing zone is expected to come on stream soon is the Badeggi Crop Processing Zone in Niger state which is expected to start operations in June next year, with an initial investment of $250 million by a Turkish investor, deputy director at Abuja-based Nigerian Investment Promotion Council, Aminu Takuma.
He also said additional funds of $800 million will be injected into the project by the investor.

    According to Aminu Takuma “the facility will process more than 750,000 metric tons of crops including rice, maize, yam, cassava, groundnuts and peas every year, according to the agency. The government plans to set up 15 similar crop zones across the country of more than 180 million people, including one in Lagos, the country’s commercial capital.”
“President Muhammadu Buhari is trying to end the country’s dependence on oil as it emerges from its worst economic slump in 25 years caused by a drop in the output and price of crude, which accounts for more than 90 percent of foreign income. The government’s economic growth plan seeks to increase the contribution of agriculture to gross domestic product to more than 8 percent by 2020, from about 4 percent this year.”
On completion goods will be transported from the Badeggi crop-processing zone through the nearby Baro inland port on the Niger River, taking them down to the coast for shipment abroad, Takuma said.
In May this year, the Government through the Federal Ministry of Agriculture had made announced plans to establish staple crops processing zones in areas of high food crops production in order to tackle post- harvest losses and boost exports.

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