Tag: investment

Nigeria’s market profitable for investors – AG President

Nigeria is one of the most profitable places in the ECOWAS sub-region for business and investment, Acting President Yemi Osinbajo, SAN, has affirmed.
Prof. Osinbajo spoke yesterday while meeting the Foreign Minister of Indonesia, Mrs Retno L. P. Marsudi at the Presidential Villa, Abuja.
According to the Acting President, with her large population and size, “Nigeria has a prerequisite market for profitable returns on any investment and business.”
Citing the success of Indomie, one of the products by an Indonesian company in the Nigerian market, Prof. Osinbajo said “there is much room to increase the volume of trade between both countries.”
“Nigeria is one of profitable places for business and investment because there is always market for them and government is creating a good and friendly environment for investment to thrive,” he stated.
He said Indonesia should take advantage of the on-going economic diversification process, especially in the agricultural sector, adding that Nigeria could be exporting agro-allied products to Indonesia.”
“About ten days ago we signed Executive Orders for Ease of Doing Business, we have a 48 hour visa regime and all that….. there is a friendly business environment,” the Acting President assured.
Earlier, the Foreign Minister of Indonesia said she came to the country with two hundred business people and had visited Lagos as her country is ready to kick-start business relationship with Nigeria.
Mrs. Marsudi also solicited the establishment of Palm Oil Producing Council between Nigeria and Indonesia, stressing that countries producing palm oil should work together in order to benefit maximally the market.

 

Source:

LAOLU AKANDE
Senior Special Assistant to the President on Media and Publicity

Office of the Vice President
6th June, 2017

2016 Chinese Investment Total: $13 Billion

The Chinese Deputy Ambassador to Nigeria, Mr. Lin Jing, has declared Chinese investments in Nigeria to have hit over $13 billion at the end of 2016.

Mr. Lin Jing  said China was also demonstrating its commitment to Nigeria’s friendship and development through the $1.3billion Lagos-Ibadan Railway Project.

He added that the $326 million 30 rice mills projects slated for the various parts of the country, the China EXIM Bank funded $984 Zungeru Hydro-Electricity Project and the $450 million loan for the construction of Keffi Road, all point to his country’s commitment to the growth of the nation’s economy.

Cros Agro Invests in Potato, Coffee, Oil Palm Plantations in Kaduna State

Cros Agro Allied Limited, a BlackPace company, is making huge strategic investment in potato, oil palm, coffee and ginger production in Nigeria to create employment opportunities and boost agriculture in both Kaduna and Plateau States respectively. With various farms in Gurara, Kachia, Mangu and Kafanchan areas, the firm is diversifying its agribusiness aggressively.

Leading the way in the production of the Irish potato value chain, Cros Agro is investing in the critical enabling components that ensure long time sustainability of the industry. The firm currently owns 700 hectares of oil palm plantation with additional 6,000 hectares underway, 1,500 hectares of ginger farm, 1,200 hectares of potato field and 10 hectares ready for processing facility in Gurara.

The company currently employs close to 60 farmers and will create additional 250 direct jobs immediately its potato processing plants resume in 2018. Its goal is to support socio-economic development of rural Nigeria while improving on quality of life.

In addition to boosting its processing business in the Potato Value chains, Cros Agro has reached an agreement with Rosenqvists Food Technologies to supply its 5,000 kg an hour French Fries and Potato Flakes processing plants. The plant will be completed in December 2017 and unveiled for operation in April 2018.