Nigeria: Dangote, GrowAfrica and Nigeria Agribusiness Group sign MoU for more investment in agriculture
(Ecofin Agency) - As part of efforts to boost private sector’s investment in agriculture, Dangote Group, GrowAfrica and Nigeria Agribusiness Group (NABG) have signed a Memorandum of Understanding (MoU). This is expected to pave the way for more private companies’ participation in the development of the agricultural value chain in the country.
According to Sani Dangote, Vice-President of Dangote Group, the private sector has the capacity to promote growth in agriculture with the Federal Government creating the enabling environment.
Also speaking at the occasion, William Asiko, Chief Executive Officer of GrowAfrica, described the development as a landmark achievement, adding that the partnership would provide a platform for agricultural bodies to work together and exploit opportunities within the agricultural value chain.
He said: “Between 2011 and 2016, GrowAfrica has been able to mobilize over 200 companies from global and domestic companies in Africa to pledge nearly $10 billion worth of investments in agriculture. These were pledges made by these companies to invest in agriculture with a commitment from the government on agreements with farmers and civil society and many others in the value chain.” “We are launching this partnership to transform the economy by engaging different actors in the value chain to evolve business scale of investments.”
For his part, Emmanuel Ijewere, the Vice President of NABG, explained that one of the best ways to ensure the success of the partnership was to involve the grassroots in developing agricultural policies. “This will create a relationship that builds from the ground to the top, thereby carrying the farmers along in decision making.”