GTB 737 banner Yudala banner

Nigeria seals $1 billion deal with Turkish investors

By Solape Renner on 02/11/2017

Share on facebook Yahoo mail icon Gmail icon

Views: 445


Nigeria plans to establish a $1 billion crop-processing park with Turkish investors in the country’s north as part of efforts to improve value and boost agricultural exports, according to the country’s investment-promotion agency.

The Badeggi Crop Processing Zone in Niger state is expected to start 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, said in an Oct. 30 interview. Additional funds of $800 million will follow and the investor will operate the park on completion, he said without identifying the Turkish partner, citing confidentiality obligations.

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.

Goods will be transported from the crop-processing zone through the nearby Baro inland port on the Niger River, taking them down to the coast for shipment abroad, Takuma said.

•Text courtesy of Bloomberg.

 

 

Source News Express

Posted 02/11/2017 12:26:32 PM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

 

You may also like...
Minister reaffirms Nigeria’s commitment to tackle climate change...

Senate postpones investigating hearing on corruption allegations against...

10-year-old female suicide bomber attacks Maiduguri

Powerful New York Assembly Speaker to resign over...

USAID interventions reduce malaria prevalence in Sokoto ---...

Pope slams ‘thirst for power’ in UN address...

Soldier escorting oil workers drowns at Agip’s oilfield...

FCTA suspends tenement rates collection

Boko Haram war claims 1,781 lives in 6...

Forbes Billionaires: Bill Gates remains No. 1, Dangote...

Whistle blowers to get 5 per cent of...

Wasteful Super Eagles part goalless with Greece in...

 

Latest News Masked soldiers on the prowl as Anambra elects Governor NDDC to establish bank, optic fibre internet Work resumes soon on 2nd Niger Bridge, 69 federal roads: Fashola INEC, security agencies not cooperating on Anambra polls, says Observer group Navy destroys 1,000 illegal refineries in 9 months N1bn fraud case: ICPC makes final presentation against ex-Governor Yerima Ugwuanyi emerges Most Efficient Governor of the Year, as Airtel, NB, others shine at 2017 BJAN Awards 312 graduate from UNIAFRICA Foundation School •Full academic programmes to begin January 2018 Cancer kills dreaded Mafia boss nicknamed ‘The Beast’ Fire guts Cameroon parliament Italy holds funeral for 26 Nigerian women drowned in Mediterranean NiMet predicts sunny and hazy Saturday

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (294,111 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (277,918 views) Shameless Genevieve Nnaji exposes breasts in public (224,395 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (188,881 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (181,192 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (165,725 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (143,865 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (130,352 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (126,639 views) Lagos plane crash: Journalist releases victims’ names (116,375 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (113,590 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (107,134 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (30) Business (2,771) Business Verdict (26) Columnists (769) Complaints & Requests (93) Enterprise & Opportunities (186) Entertainment (404) Features (508) Global Business Monitor (190) International (1,639) Interviews (138) Live Commentary (28) Love Matters (82) News (30,324) Opinion (837) Pidgin (9) Politics (4,096) Religion (648) Sports (1,355) Stock Watch (24) AMA & Al Jazeera Global Update

 

UBA mobile app

CBN Words on marble

 

 

Argentina vs Nigeria

 

APO Group Partner

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!