Niger State Government through Niger Foods has signed a Memorandum of Understanding with Arab contractors for the development of 250,000 hectares of land in the State for crop production, livestock farming, food processing factories and abattoirs.
The agreement was signed at the Headquarters of Arab Contractors in Cairo Egypt where the Executive Chairman Niger Foods, Sammy Adigun signed on behalf of Niger Food Security and Logistics Company while the Managing Director Arab Contractors, Engr. Mohammed Eledaros signed on behalf of Arab Contractors.
The agreement is expected to see Arab contractors developing 250,000 hectares of land in the State beginning with 25,000 hectares as the first phase in the five year agreement plan.
In the agreement, Niger Foods is to provide the land suitable for agricultural development purposes while Arab Contractors will develop the lands including the provision of technical expertise and know-how where necessary.
The 250,000 hectares of land to be developed will pave the way for the production of 2 million tons of food annually, provide 2 million direct and indirect jobs as well as bring in investment of about $1.5bn over a five year period.
Both parties are to jointly raise the capital required for the development of the project from financial institutions, investors and other funding sources.
Niger State Governor, Mohammed Umaru Bago and a few other key government officials including the Secretary to the State Government, Abubakar Usman, Chief of Staff to the Governor Usman Gbatamangi and Chairman New Niger Development Project, Mustapha Bida were present at the signing of the agreement .
The Chairman of Arab Contractors including the Director of finance, Heads of Business Development and Public Relations of the Company were also present during the signing of the MOU.
