The Niger State Government has signed a Memorandum of Understanding (MOU) with Arab Contractors for the development of 250,000 hectares of land in the state.
A statement issued by the Chief Press Secretary to the Niger state Governor, Bologi Ibrahim noted that the agreement was formalized at the headquarters of Arab Contractors in Cairo, Egypt.
“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 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,” the statement said.
The Executive Chairman of Niger Foods, Sammy Adigun, represented Niger State in signing the agreement, while Engr. Mohammed Eledaros, the Managing Director of Arab Contractors, signed on behalf of his company.
The partnership, which is part of a five-year agreement, will see the development of land for crop production, livestock farming, food processing factories, and abattoirs.
The statement added that under the terms of the agreement, Niger Foods will provide suitable land, and Arab Contractors will handle its development, including the provision of necessary technical expertise.
The project will begin with the development of 25,000 hectares in the first phase, with plans to expand over time to cover the full 250,000 hectares.
The initiative is expected to generate 2 million tons of food annually, create 2 million direct and indirect jobs, and attract a $1.5 billion investment over the five years.
The project will be jointly financed by financial institutions, investors, and other funding sources, with both parties committed to raising the required capital.
Key officials from Niger State, including Governor Umaru Bago, Secretary to the State Government Abubakar Usman, Chief of Staff Usman Gbatamangi, and the Chairman of the New Niger Development Project, Mustapha Bida, were present at the signing ceremony, alongside senior executives from Arab Contractors.