Friday, January 29, 2010
From Emeka Anuforo, Abuja
Investors from one of Thailand's biggest business concern, CP Group, yesterday affirmed their intention to invest in rice production in Nigeria, among other agriculture related areas.
The team, made up of heads of conglomerates under the group, met with the management of the Nigeria Investment Promotion Commission (NIPC), in Abuja, where they declared their interest, particularly in helping Nigeria to revamp its rice production sub-sector.
Charge d' Affairs of the Royal Embassy of Thailand, Mr. Niyom Wathammawut, said at the meeting that the investors were in Nigeria to explore business and investment opportunities.
He stressed: "The purpose of the visit is to explore the enormous opportunities for investment in agriculture. They are here to meet government agencies in the relevant sector."
The Executive Secretary of NIPC, Mr. Mustapaha Bello, recalled that Nigeria had always imported large quantities of rice from Thailand, expressing gratitude that the investors took interest in revamping the rice industry in country.
"Agriculture is one sector which every country of the world prioritises. We have the capacity in Nigeria but we have never invested in the right technologies and as such government had always opened up the nation's borders to rice from countries like Thailand.
"Our challenge in agriculture is lack of ability to support the subsistent farmers to grow in quality and quantity. We don't have large scale farmers in Nigeria."
Enumerating the policy support schemes for large-scale investors in the sector, Bello noted that beyond the 140 million Nigerians, the nation could service about 350 million consumers within and outside Nigeria. Most of our neighbouring countries depend on the country for most of their consumables."
