The Nigerian Online Newspaper

Agric value-chain: Niger signs N18b mou with Hungarian investors

Niger State Government on Wednesday signed a  €49 million (N18 billion) Memorandum of Understanding with an Hungarian investor for the setting up of an Integrated farming project and a Tomatoe Paste processing factory in the state.
The state governor, Alhaji Abubakar Sani Bello, signed for the state government while the country representative of the Hungarian investor, Yua Terva, endorsed the agreement for Osetertrade Engineering & Manufacturing Kft of Hungary.
The multi billion Naira project to be sited at Kuta, Shiroro Local Govetnment area of the state will cover over 4,000 hectares of land for the cultivation of Alfalfa, Mazie and Tomatoes and a Tomato Paste processing factory.
Governor Sani Bello said the signing of the MoU with the foreign investor was part of his administration’s agenda to open up the state, make it economically viable and drastically reduce her dependence on monthly allocation from Abuja.
He further said that aside the job opportunities to the generated by the project, government entered into the MoU in pursuant of the administration’s commitment to leverage on the vast land resources of the state and to promote agriculture as an alternative to the country’s mono-economy.
Addressing newsmen after signing the agreement, the country representative of the Hungarian investor, Terva, said that the ground breaking of the integrated farm and the Tomato Paste processing plant will be in December this year.
He said a minimum of two thousand direct labour will be created by the farm and the factory when it is fully operational.