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The Federal Government has promised Qatari investors of incentives such as tax holidays, exemptions, and reliefs to support private sector participation in Nigeria’s agricultural sector.
Yakubu Ahmed, Nigeria’s Ambassador Extra-Ordinary and Plenipotentiary to the State of Qatar, who gave the assurance when he paid a courtesy visit to the Headquarters of Hassad Food, in Doha,disclosed that Nigeria is rich in agriculture and is ready for investments in the food chain to ensure maximum utilization of its potentials.
He also advocated Nigeria’s interest to promote private sector participation in mechanized crop production (such as rice, maize, millet, cassava, sugar cane, tomato and the cash crops such as cocoa, palm kernel, rubber, among others), fruit juice/canned fruits processing, food processing and preservation).
Other areas he listed include farming and processing of livestock, dairy & aquaculture, supply of agricultural input and machinery as well as international commodity trading and transportation.
He emphasized the presence of local demand for improved seeds, agrochemicals, veterinary drugs, vaccines, feeds and feeds ingredients, stressing that the agro sector contributed N757.4 billion representing 7.76% of the country’s total export in Q1 2021.
Inviting Hassad Food Company to take advantage of investment opportunities in the country, Amb. Yakubu revealed that Nigeria’s “major traded agricultural products within the period include sesamum seeds, cocoa beans, cashew nuts, coconuts, ginger, palm nuts and kernels and shea cake.”
The Vice President of the Group, Ali Hilal Al Kuwari, assured that the company looks forward to exploring the Nigerian market.
He disclosed that “the company has now developed an appetite to enter into the Nigerian market for mutually beneficial partnerships.”
He further added that they “will start with the trade of Nigerian agricultural commodities to test the viability of such partnership following which concrete investment may develop.”
He advised that the two countries can use lamb as a Launchpad commodity from which to expand into products.
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