Nigeria Gov’t to Establish $1B Crop Processing Facility

The government of Nigeria plans to build a $1 billion crop processing facility with Turkish investors in a bid to increase the value of African nation’s agricultural output and provide greater opportunities for exports, Bloomberg and several Nigerian news organizations reported Wednesday.

Announced recently by the Nigerian Investment Promotion Council (NIPC), the Badeggi Crop Processing Zone in the country’s Niger state will process some 750,000 MT/yr of crops like cassava, groundnuts, and maize.

NIPC’s deputy director told Bloomberg that the facility is slated to open next June. Plans are afoot to construct 15 other crop processing facilities across the country, the news organization reported.

Nigeria is the world’s biggest grower of Cassava and the fourth largest producer of groundnuts, according to NIPC’s website. The organization said Nigeria’s agricultural sector needs about $2.4 million per year in investment to reduce its reliance on imports and improve prospects for exports.

NIPC declined to identify he Turkish investors citing confidentiality concerns.

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