Local And Foreign Consortium Set To Invest $500m In Cassava Processing In Nigeria

By Mod2   2 weeks ago   57
Business - Top Stories


A team of technocrats and business development partners under the auspices of Zealhosts Project Bolt Consortium is to invest 500 million dollars into the cassava manufacturing industry in Nigeria. Dr Tony Bello, Chairman of Shine Bridge Global and Zealhosts Consortium Partner made this known in a statement on Friday.

He said the private sector investment would be channeled through a programme known as ‘Project Bolt’ to speedily achieve the desired result.

The consortium partners included, Zealhosts Consulting Services, Berwick Agro, ALTS Consulting, H2AFoods Nigeria, and U.S.-based food and agribusiness advisory service companies, Shine Bridge Global with the support of AfricaGlobal Schaffer.

Bello said the investors have been overjoyed to have entered right into a strategic Public Private Partnership with the Federal Ministry of Industry, Trade and Investment.

According to him, the aim is to work together towards revitalisation of the meals and beverage industry in Nigeria.

“As a group of technocrats and business development partners in Nigeria and the U.S. We are centered on industrialisation of cassava into practical food components for the producing of customer packaged goods in Nigeria.

“Not handiest Nigeria but for export to nearby West African and to North American and European markets as well.

“We need to thank President Muhammadu Buhari for his visionary leadership of the Economic Sustainability Plan and guide of the National Industrial Plan and the Zero Oil Plan of the FMITI underneath the management of Mr Niyi Adebayo, minister for Industry, Trade and Investments.

“We have labored with the minister, Adebayo, the Permanent Secretary, Dr Nasir Sani Gwarzo and the Director of Industrial Development, body of workers of the ministry to layout the terms of engagement and scope of labor under the Industrial Cassava Manufacturing Program of the ministry,” he said.

Bello defined that six personal zone partners in Nigeria and the united stateshave been engaged to make certain the a hit implementation of Project Bolt.

According to him, like Usain Bolt, speed is of essence within the programme implementation; we have finished innovation of latest food merchandise which includes snacks, crackers, shawarma and pizza crust made from cassava.

“Together we will tackle the troubles of unemployment, create jobs for our youths, girls and smallholder farmers in Nigeria.

“We commit to over 750,000 new direct and oblique jobs within the implementation of Project Bolt and we're found in six states and trying to make bigger to at the very least 10 States in meals manufacturing in Nigeria,” he said.

Bello counseled Buhari’s efforts in moving Nigeria ahead in the direction of financial diversification through food and agricultural industrialisation.

He said the investors had come to provide technical and commercial enterprise leadership to the food and agribusiness area via co-investments in production.

He said the buyers might observe worldwide food safety tasks and export marketplace promotions to drive import substitution and the Forex market earnings.



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Akoso Victor
2 weeks ago

That's a good idea

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2 weeks ago

Good news for our food production

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Nigeria is really advancing, but some of the leaders are corrupt that they are being too selfish

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But lack of capital

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