The Minister of Agriculture and Rural Development, Dr Akinwumi Adesina, has signed a Letter of Intent (LOI) with the chairman and CEO, Blumberg Grain, Philip Blumberg to invest $250 million in large scale food storage facilities.
In a statement made available to LEADERSHIP yesterday and signed by the ministry’s acting director (Press), Greyne Anosike, noted that the investment would create up to 1,000 jobs and boost food production in the nation’s agriculture sector.
The minister said, “We are excited that a company with the reputation and resources of Blumberg Grain chose to establish its West African production operations and processing facilities in Nigeria. This is a mark of confidence in the structural reforms of our agriculture sector.
“Specifically, the investment would see the development of a Blumberg Grain Manufacturing Plant and Export Hub that, in addition to significantjob creation, would increase exports of “made in Nigeria” manufactured products; make Nigeria the region’s agribusiness centre for food safety and security and utilise Nigerian companies to provide raw materials and local content for production among others.”
In his response, Mr Blumberg said, “Our commitment is both a response to the G8’s New Alliance for Food Security and Nutrition programme which aligns members’ support to Nigeria’s agriculture objectives as well as to the country’s own commitment to promote a business enabling environment for both domestic and international private sector.”
Blumberg Grain is a leading United States of America-based food security company, providing vertically integrated crop and food storage systems, technology and management. Blumberg Grain’s food safety and security infrastructure and warehousing reduces post-harvest losses of grain, produce, and other perishables to five per cent or less. The company works with private companies and countries to modernise agriculture value chains, increase the quality and marketable output of their harvests, enable efficient market timing, and significantly boost exports of agriculture products.