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Published On: Fri, Jul 11th, 2014

Firm invests N1.6bn in shea butter production in Niger

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From Yakubu Mustapha,Minna.

Director General Investment in Niger state Alhaji Ahmed Mohammed Kontagora has said that a private company is to invest over N1.6bn into the establishment of a Shea butter factory in Mokwa town of the state.

Alhaji Ahmed Kontagora stated this yesterday in Minna after the executive council meeting that the state would be contributing to the project was the release of 20 hectares of land to firm.

While addressing newsmen the Director General said that government and the firm will sign the memorandum of understanding for the execution of the project next week while actual construction will commence immediately.

He said that the ground breaking ceremony for the project has been fixed for November this year while its inauguration will hold early in 2015.

Kontagora said on completion the factory will engage about 10,000 people and generate over N10m monthly which he said will be boost to the economy of the state adding that the choice of Mokwa for the location of the factory was as a result of its location which will make movement raw materials and the finished product easy.

The Director General revealed that initially Shea butter from the state was declared as below quality but with the intervention of government which has led to an improvement in the processing of the commodity Shea butter from the state has better quality than those got from elsewhere.

In the meantime the Director General One Stop Investment Centre alhaji Hamza Bello has revealed governments plan to upgrade and develop some markets in the state to put them in position of generating more money to the administrations at all levels.

Hamza Bello also told journalists yesterday that the state was losing well over N160m monthly from improper management of markets apart from the hazards traders are exposed to daily.

He said that the Mariga Market will be developed to an Integrated Commodity Market following a survey carried out for government by the United Nations Development Partner while those at Dikko and Madalla will also be upgraded.

According to him the Niger State Development Company is to invest over N1.8bn on the Madalla market a project he said will commence before the end of next month while private partners are being sought to develop other markets in the state.

 

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