News Details

Niger government plot N1 trillion annual income from agriculture yields

NPO

•

December 26, 2023

THE  GUARDIAN

The Niger State Government expects to warm at least N1 trillion annually yields from the agricultural sector of the state.

Pursuant to the objective, a framework agreement for commodities off-taker between Niger Food Security and Logistics Company, a state-based limited liability company, and Tropical General Investments (TGI), a privately-owned company has been signed.

The agreement is to boost efforts towards food security and promote economic diversification in Niger State.

The agreement was signed by the Chairman, Niger Foods, Sammy Adigun, and Executive Director, TGI Group, Sadik Kassim.

It was witnessed by Governor Umar Bago and the Chairman, Union Bank and EVC, TGI Group, Mal Faruk Gumel.

This was made known in a statement by the Special Adviser on Digital Media and Strategy to the Governor, Abdullberqy Usman Ebbo.

According to the agreement, the Niger State Government, the producer, shall be responsible for the cultivation, harvesting, aggregation, and sales of rice paddy, soya beans, maize, sesame seeds to the off-taker, Tropical General Investments, who shall be responsible for the transportation, logistics, and purchase of farm produce.

Tropical General Investments is part of the conglomerate that includes Union Bank, Wacot Rice, Wasil, and Chi groups.

This transaction involves the production of 600,000 – 1 million tons of food per year over the next five years.

The governor indicated that the production will employ over 100,000 farmers, farming on over 100,000 hectares across Niger State.

This is expected to bring over one trillion Naira a year to the Niger state economy annually.