Niger partners with Arab contractors for large-scale agricultural development
The Niger State, the Niger State Government, through Niger Foods, has entered into a Memorandum of Understanding (MOU) with Arab Contractors for the development of 250,000 hectares of land for agricultural purposes.
This partnership was formalized in a ceremony held at the headquarters of Arab Contractors in Cairo, Egypt.
The MOU was signed by Sammy Adigun, the Executive Chairman of Niger Foods, on behalf of Niger Food Security and Logistics Company, and Engr. Mohammed Eledaros, the Managing Director of Arab Contractors. The project is expected to transform the agricultural landscape of Niger State with a focus on crop production, livestock farming, food processing factories, and abattoirs.
Under the terms of the agreement, Arab Contractors will begin by developing 25,000 hectares of land as part of the first phase of the project. Over the course of five years, the full 250,000 hectares will be developed, paving the way for the production of 2 million tons of food annually.
This massive agricultural initiative is expected to create 2 million direct and indirect jobs and attract an estimated investment of $1.5 billion.
The development project will rely on the expertise and technical know-how of Arab Contractors, who will be responsible for the land’s development, while Niger Foods will provide the suitable agricultural land. Both parties will jointly raise capital from financial institutions, investors, and other funding sources to support the project.
Key government officials were present at the signing, including Niger State Governor, Mohammed Umaru Bago, the Secretary to the State Government, Abubakar Usman, Chief of Staff to the Governor, Usman Gbatamangi, and the Chairman of the New Niger Development Project, Mustapha Bida.
From Arab Contractors, Chairman Ahmed Mostafi El-Assar, Finance Director for Africa Emad Ebied, Head of Business Development & Strategic Studies Lubna Shafla, and Head of Public Relations Menna Yasser were also in attendance.
