Nigeria Plans $1 Billion Processing Zone to Boost Exports
- Government planning to set up more zones around the country
- Turkish investor to build, operate 60% of crop-processing park
Photographer: Balint Porneczi/Bloomberg
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Nigeria plans to establish a $1 billion crop-processing park with Turkish investors in the country’s north as part of efforts to improve value and boost agricultural exports, according to the country’s investment-promotion agency.
The Badeggi Crop Processing Zone in Niger state is expected to start in June next year, with an initial investment of $250 million by a Turkish investor, deputy director at Abuja-based Nigerian Investment Promotion Council, Aminu Takuma, said in an Oct. 30 interview. Additional funds of $800 million will follow and the investor will operate the park on completion, he said without identifying the Turkish partner, citing confidentiality obligations.