Blumberg Grain was featured as an investor at the 19th Economic Summit organised by the Nigerian Economic Summit Group in Abuja last week, with participants drawn from virtually all sectors of the economy to deliberate on ways to unlock Nigeria’s agric potential. As featured in an article titled Economic Summit Offers Blueprint to Unlock Nigeria’s Agric Potential in THISDAY LIVE, an excerpt follows:
Speaking at the signing of a Memorandum of Understanding (MoU), the Minister of Agric. Adesina said the federal government would establish 800 warehouses across the country, which is at least one warehouse in every local government area in Nigeria.
He added that the Federal Government would create an Agriculture Information System to help gather data for farmers and also recruit those that will manage the warehouses.
It was gathered that Blumberg has agreed to invest $250 million in warehouse facilities in Nigeria as a fallout of the agreement with the African Exchange Holdings.
When operational, the warehouses will be leased by the government to private investors “so that farmers can make money”, the minister said.
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