A major multinational conglomerate, The Lee Group, has announced plans to invest $35 million in Nasarawa State’s agricultural initiatives.
The group’s project director, Wilkins Lam, stated that the proposed investment would concentrate on producing rice, sugarcane, sesame, and peanuts while courtesy calling Governor Abdullahi Sule.
He claimed that in addition to investing $20 million to create a sugar factory, the group planned to develop 5,000 hectares of rice fields, including irrigation infrastructure and a modern rice mill, for $15 million.
He said the investment in sugar would complement its existing sugarcane plantation in Jigawa State. He added that the group would expand into sesame and peanut production, leveraging high-yield seed varieties to boost output.
“This is just the beginning, we are committed to long-term investments in Nasarawa State and appreciate the governor’s support. The first thing we will do is to deploy a team of professionals to do a comprehensive feasibility study on which type of crop would be most suitable in the area,” he stated.
Responding, Governor Sule expressed enthusiasm about the partnership, describing it as a transformative opportunity for the state. He commended the Lee Group for its commitment to Nigeria’s agricultural sector.
The governor said revenue generated from agriculture far outweighs that from oil and gas.
He pledged to accompany the Lee team on an inspection tour of potential sites to ensure a seamless acquisition process. He also promised state support in facilitating community engagements and expediting necessary approvals.
“We are ready to move beyond meetings. Where the state needs to contribute, we will do so to ensure this project succeeds. If I had your vision and resources, I would invest in sugarcane first. Nigeria’s sugar demand is enormous, with a 50kg bag now selling for N80,000. The market extends beyond Nigeria to neighbouring West African countries. With 30,000 hectares of land, no refinery can compete with you,” he stated.
According to Ibrahim Abdullahi, managing director and CEO of the Nasarawa State Investment Development Agency (NASIDA), the Lee Group has investments nationwide.
He claims that a 5000-hectare prospective location for the initial investment has been found in the Doma local government region.
Source; Leadership
Image Credit: Channels TV
