Nigeria: The Year in Review - 2009 Investment Highlights

14.12.09

Agriculture is extremely seen as the sector most likely to lead the way as Nigeria tries to vary its oil-dominated economy. Foreign players are increasingly fervid to be part of any agrarian revolution.

During 2009, a South African company, In the know about Design International Limited announced plans to base a sugar factory in Gombe State situated in north-east Nigeria. Williams Bawise, grouping managing director, said the firm will grow 40,000 hectares of sugar cane to furnishing the proposed sugar factory. Nigeria's Dangote Group, also looking to capitalise on the terse supply of sugar in the country, has revealed it intends to add an uncommonly plant to the existing Savannah Sugar Company which will give the facility a thoroughgoing capacity of between 100,000 and 150,000 tonnes of sugar a year.

At cock crow in June, Notore Chemical Industries Limited and the Testy River State Government signed a memorandum of contract to build Africa's largest rice mill. The mill will have a capacity of 255,000 tonnes and the delineate will also include a 20,000 hectare rice farm in the state of affairs. A state-wide outgrowers buy-back scheme is expected to humour for extra rice that the mill would require.

Source: AllAfrica.com