(http://fmi.gov.ng/wp-content/uploads/2013/07/blumberg-grain-300x192.jpg) Blumberg Grain, the Global food giant's investment will mean up to 1,000 jobs for an already rapidly expanding sector under Nigeria's Agricultural Transformation Agenda.
Nigeria's Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina and Blumberg Grain Chairman and CEO, Philip Blumberg, signed a letter of intent (LOI) last week, that will see the giant multinational food security company invest $250 million in a large scale food storage facilities for Nigeria's agricultural sector creating up to 1,000 jobs and boosting food production.
"We are excited a company with the reputation and resources of Blumberg Grain chose to establish its West African production operations and processing facilities in Nigeria", Adesina said.
"This is a mark of confidence in the structural reforms of our agricultural sector. By manufacturing storage warehouses in Nigeria, farmers, agro-processors and financial services industry will be able to reduce post-harvest losses, improve market access and incomes across agricultural, value chains. Our goal is to make Nigeria a global powerhouse in food. This investment will further enhance Nigeria's regional position in agriculture."
Under Nigeria's Agricultural Transformation Agenda, the goal is to add 20 million MT of food to the domestic food supply by 2015. Reducing the estimated 50% loss in produce from post-harvest losses due in large part to inadequate storage is one of the fastest and most efficient ways to achieve this target.
Specifically, the investment will see the development of a Blumberg Grain Manufacturing Plant and Export Hub that in addition to significant job creation will increase exports of "Made in Nigeria" manufactured products; make Nigeria the region's agribusiness centre for food safety and security; utilize Nigerian companies to provide raw materials and local content for production; empower local distribution and construction partners to generate additional business and employment; create an Agricultural Institute to assist farmers in generating higher crop yields; and maintain a focus on youth employment in the agricultural sector through job creation, training and skills transfer.
"Nigeria represents one of the largest agricultural markets in the world, and provides a significant opportunity for our company to establish a major presence in West Africa. We have been encouraged and impressed with Minister Adesina and his staff, and State government officials' assertiveness in attracting and supporting our investment program" said, Mr. Blumberg.
He further said that "Our commitment is both a response to the G8's New Alliance for Food Security and Nutrition program which aligns members' support to Nigeria's agricultural objectives as well as to the country's own commitment to promote a business enabling environment for both domestic and international private sectors."
Blumberg Grain is a leading US 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 5% or less. The company works with private companies and countries to modernize agricultural value chains, increase the quality and marketable output of their harvests, enable efficient market timing, and significantly boost exports of agriculture products.
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Federal Ministry of Information (FMI) Nigeria
Our agricultural sector is very much needed and important if we want the progress of this country. It would do well for our economy!